With hydraulic fracturing widespread in the U.S., the country has found an abundance of energy supply. Currently, the effects of fracking to the economy have been felt, with the government recently reporting an improved trade balance for June, which has been attributed to lower oil imports. There are projections of zero energy imports in the longer term.
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Meanwhile, key players in the energy industry have also been planning to increase the country’s exports of natural gas as they try to optimize economic benefits by taking advantage of the abundance in energy supply. By exporting more natural gas, the U.S. could pull up its standing in the global economy.
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However, supporters of increased exportation of natural gas may find an obstacle in Andrew N. Liveris, Dow Chemical’s chief executive, who has launched a campaign against more exportation. Mr. Liveris sees this as a threat to the recovery of the nation’s manufacturing industry, which has gained a lot of ground due to the lower costs of energy.
Mr. Liveris is calling for an energy policy from the government that balances the interests of oil and gas companies and those of domestic industries, themselves big energy consumers. Unrestricted exports, he said, could bring a shortage of domestic gas supplies and bring back higher energy prices.
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Dr. Ali Ghalambor has authored several books on hydraulic fracturing and oil and gas production. Find more links to news articles about the energy industry on this Twitter page.
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