Federal Lease Sales Critical to Maintaining America’s Energy Dominance

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How different America’s energy prospects are today than they were at the turn of the century. In 2000, the accepted wisdom was we were running out of oil and natural gas. At the time, we were importing more than half of our oil needs and building terminals to import liquefied natural gas (LNG).

But thanks to the “shale revolution,” that has nearly doubled oil and gas production, 17 years later imported oil accounts for only a quarter of consumption and we’re actually exporting a million barrels per day. Some of those terminals that were built to import natural gas have been converted to export facilities as America has become a small but fast-growing player in the international LNG market.

In short, the U.S. has once again become an energy superpower, and the old mantra of “energy independence” has been replaced by the new mantra of “energy dominance”…

 

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