Quote:
Originally Posted by Donger
Yes, it is an interesting prediction. However, the energy companies are under no obligation to sell and refine the crude for purely American consumption.
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At the same time, fracking won't be used exclusively on energy resources located in the US.
We have LNG import facilities that were built just a few years ago. Now, with the relatively low NG production costs compared to those in Europe, some are discussing conversion of those import facilities to export facilities. However, the oil and gas industry is backing off that type of planning due to the realizaton that Europe and China have plenty of frackable resources.
Ultimately as fracking technology spreads, a global market become established with more uniform prices for NG, resulting in less incentive to export.