With Europe’s dependence on Russian gas impeding diplomatic efforts, it’s time to reconsider outdated policies that are keeping the U.S. from becoming an energy exporter.
U.S. lawmakers don’t drive around in 1970s-era cars, yet they don’t seem to mind energy policies that are equally out of date.
Energy companies have been urging Congress to lift the lid on exports and start treating oil and gas again like any other commodity that’s freely traded in world markets. Tapping global demand for U.S. shale oil and gas, I say, will spur domestic production and create even more jobs in a sector that’s already racked up 10.1 million jobs.
Russia’s power play in stealing Crimea from Ukraine has given fresh impetus to the export push.
The idea that surging U.S. gas and oil production is a new source of geopolitical power is now a reality.