There are a lot of calls for increasing natural gas exports from the US to Europe. Producers want to export so they can gain access to higher price markets. In Europe, natural gas sells for $10 per thousand cubic feet (Mcf) compared to less than $5 mcf here in the US.
Producers should have the right to export. I’m a free trade advocate. Those with capital at risk certainly should have the right to get the most for their product.
Exports will be led by the private sector, but they require government permits. Best case, I think we’re looking two to three years down the road before newly permitted facilities begin to export natural gas. But exporting to address the Russian energy threat facing Europe is flawed thinking. Starting 40 years ago, America became hostage to OPEC oil. Today, it remains one of the greatest threats to our national security, and our economy.
Europe has become similarly dependent on Russian energy.
America, however, has taken bold steps to address our problem head on. The domestic oil and gas industry – with stunning technological advances – has reversed the decline in domestic production and helped begin to chip away at OPEC oil imports. There is more to be done, but we are making progress.
Europe, on the other hand, has similar natural gas and oil resources. What they lack is a willingness to address the environmental opposition that blocks oil and gas development there. Their problem – and their solution – is internal, not external.
If anything, we should focus on exporting our oil and gas industry’s technology and expertise to help Europe help themselves.
Sure, allow natural gas exports, but know we’d be better off as a nation if we rebuilt our economy on the backs of our cheap energy, not Europe’s. A key element of that is increasing demand for this premium fuel domestically, and leadership on that is sorely lacking in Washington.