Friday, December 12, 2014

Export oil

As the country cries out for higher paying jobs the energy industry lies poised to answer the call. If the government were as anxious to expand drilling as they are to waste money on solar projects the economy would rapidly expand. Aside from the peripheral jobs that drilling provides, the lower cost of fuel is causing people to go back to bigger cars which means more profits for the auto industry. The airline business profits rise as the cost of jet fuel declines. Industries, particularly manufacturing industries, see their energy cost decline and thus add to their profits. All of these extra profits encourage industries to expand and thus new jobs. For home owners the price of natural gas remains low and the cost of heating oil is coming down. Because getting approvals for new refineries has been so difficult most oil companies have just expanded the capacity of existing facilities which are now close to their limits. Since the US is now producing more oil than it can refine the time has come to lift restrictions on oil exporting and allow the boom in production to be sent to foreign markets. The next step is to allow new refineries to be constructed so that the US can be completely energy independent. While this is going on the restrictions on liquid natural gas ports should be removed so the US can export the vast quantities of natural gas now available because of new drilling techniques. Both Europe and Asia are crying out for this supply of natural gas which means lower prices for their energy and cleaner air for their cities.

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