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Trump also announced that the Interior Department would be kicking off the formal process to expand areas available for offshore drilling of oil and natural gas. He vowed to create "American energy dominance". [33] The value of US LNG exports was estimated to reach nearly $5 billion in 2018 and $12 billion in 2019. [34] In early December 2018 ...
Most U.S. refineries - which turn oil into gasoline - are equipped to handle the heavy, cheaper crude the nation imports from Canada, Mexico and other countries.
Due to the great surge in American production of oil, natural gas, and natural gas liquids since 2008, those products have been cheaper in the North American market than worldwide, giving American refiners a major cost advantage. [17] The discount on US crude is partially attributed to the long-standing federal ban on exports of American crude oil.
In 2007, state severance taxes amounted to $10.7 billion, mostly from oil, gas, and coal. States also received 50 percent of federal onshore oil and gas lease revenues within their borders, and 27 percent of federal offshore oil and gas revenues adjacent to their shorelines; the state share of federal revenues totalled $2.0 billion in 2007. [45]
Profits were in. Energy firms slashed capacity—including refineries that turn oil into gasoline—and drillers began practicing “capital discipline,” investing in new production only if ...
Data from OPIS, which tracks gas prices at 130,000 stations nationwide, shows that nearly 41,000 of those stations, or nearly one out of every three, are already charging less than $3 a gallon for ...
The Lowering Gasoline Prices to Fuel an America That Works Act of 2014 was introduced into the United States House of Representatives on June 19, 2014 by Rep. Doc Hastings (R-WA). [6] It was referred to the United States House Committee on Natural Resources and the United States House Committee on the Judiciary . [ 6 ]
Analysts believe that China’s 15 percent tariff on U.S. liquefied natural gas — the tariff went into effect Monday — will undermine America’s ability to sell energy to the world. In fact ...