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Energy Tomorrow Blog

Trade Tit-For-Tat Impacts U.S. Energy, Consumers

trade  china  energy exports 

Mark Green

Mark Green
Posted August 26, 2019

News item: China announces retaliatory tariffs on $75 billion worth of U.S. goods, including a first-ever tariffs on U.S. crude oil imports. In response, President Trump says previously announced tariffs on Chinese goods will go up. The U.S.-China trade war churns on and with it, there’s significant collateral damage.

We discussed the impacts before – the way trade restrictions threaten U.S. competitiveness and global energy leadership, the drag on the U.S. economy and how the administration’s tariffs hurt U.S. consumers, not China.  The latest trade tit-for-tat is similarly damaging. 

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Trade Restrictions Threaten U.S. Competitiveness, Energy Leadership

energy exports  trade  china 

API CEO Mike Sommers

Mike Sommers
Posted August 21, 2019

U.S. crude oil exports are reaching a record 31 countries, and exports of U.S. liquefied natural gas (LNG) are set to jump a projected 63 percent this year – boosting American jobs and adding stability to global markets.

But the ongoing trade war puts growing markets for U.S. energy exports at risk.

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Let’s Win on Trade: Approve USMCA, End Harmful Tariffs and Quotas

trade  canada  mexico  energy exports 

Mark Green

Mark Green
Posted May 14, 2019

Winning on trade looks like this: 12 million U.S. jobs supported in all 50 states; commerce with neighbors Mexico and Canada was nearly $1.3 trillion in 2017 – four times what it was 25 years ago; in the energy space, trade helps the U.S. natural gas and oil industry, which supports 10.3 million jobs – many of which exist thanks to free North American trade

For these reasons and more, Congress should approve the U.S.-Mexico-Canada Agreement (USMCA), the successor to the North American Free Trade Agreement (NAFTA). From an energy standpoint, the case for USMCA approval is strong.

This agreement – as NAFTA did before – would support U.S. natural gas and oil (see here and here) by fostering a fair, level playing field for record-setting U.S. energy exports.

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Tariffs and Signals From the Economy

trade  energy exports  economic growth 

Dean Foreman

Dean Foreman
Posted August 7, 2018

Recently, we discussed how natural gas and oil production and energy exports were major contributors to robust second-quarter growth by the U.S. economy – by themselves generating nearly half of the increase in U.S. real exports in Q2.

Yet, there’s concern that escalating U.S. trade restrictions and looming disputes could threaten global trade and economic growth. We’ve talked about tariffs and quotas directly impacting the natural gas and oil industry – China last week announced a 25 percent tariff on U.S. liquefied natural gas – but the potential effect is broader than just our industry, as indicated in last week’s post on possible food price impacts

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IEA: Opportunity for U.S. Energy as Global Demand Grows

iea  energy demand  us energy  exports 

Mark Green

Mark Green
Posted November 15, 2017

IEA’s statement above is remarkable. What it means is that the energy security goals U.S. leaders have discussed for more than 40 years appear to be coming into view. Thanks to modern, data analytics-based exploration and production, the United States will produce natural gas and oil at unprecedented levels, decreasing oil imports and growing opportunities for U.S. energy in the global marketplace. 

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Refined Products Trade Benefits North America

refineries  petroleum products  energy exports  canada  mexico  trade 

Mark Green

Mark Green
Posted March 22, 2017

Exports of finished petroleum products – including finished motor gasoline, propane, distillate fuel oil and others – to Canada and Mexico are a big part of the North American energy market that we posted on here, a market that is providing economic and security benefits to all three countries.

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For the Broad Benefits of Free Energy Trade

energy exports  lng exports  trade  economic growth 

Mark Green

Mark Green
Posted January 25, 2017

American energy also should be able to reach new markets abroad. Freely trading U.S. crude, LNG, petrochemicals and finished products made from petroleum and natural gas is key to strengthening U.S. competitiveness around the globe, economic growth and domestic energy production.

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U.S. Energy Outlook: Growing Output, Growing Security

oil and natural gas  us energy security  oil imports  energy exports  eia forecast 

Mark Green

Mark Green
Posted January 6, 2017

Sometime in the mid-2020s, U.S. energy officials project, two key lines measuring energy imports and exports will cross, and the United States will have achieved something quite special – the advent of an era in which America is a net energy exporter. That’s one of the big projections contained in the U.S. Energy Information Administration’s newly released Annual Energy Outlook for 2017 (AEO2017).

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Energy Year in Review

consumers  gasoline prices  energy costs  emission reductions  energy exports  access  infrastructure 

Jack Gerard

Jack Gerard
Posted December 28, 2016

Despite occasional policy obstacles, the U.S. energy revolution continues to enhance America’s economic and national security and deliver major benefits to consumers, the environment and manufacturers. With commonsense, market-based, consumer-focused energy policies, the new Congress and incoming administration can maintain and extend our global energy leadership.

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U.S. Energy’s Growing Strength in Global Markets

energy exports  liquefied natural gas  lng  trade 

Mark Green

Mark Green
Posted November 30, 2016

Perhaps more importantly, the November natural gas export/import numbers suggest new U.S. muscularity in the global energy marketplace, built by America’s domestic energy renaissance. Record natural gas output, largely developed with advanced hydraulic fracturing and horizontal drilling, is creating export opportunities for U.S. liquefied natural gas (LNG) and increasing U.S. energy influence globally.

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