The North American energy transformation that has altered the global energy picture does not end there.
North American oil and natural gas production has increased in the past decade, and Americans are becoming aware of the positive implications for our economy and for North America’s growing relevance as a global leader in energy production. The story resonates at a very basic level, America’s economy and national security.
The robust production out of North American shales is providing the U.S. with the ability to reshape our foreign policy and become an even more influential player in the global energy game.
The dramatic shift from importer to exporter of these natural resources has the potential to significantly reduce the current U.S. trade deficit. What’s more, in addition to falling imports, the U.S. is becoming an exporter to global markets. 2016 was a milestone year for the U.S. energy sector. U.S. produced crude oil was exported and ethane, a liquefied natural gas (LNG) was also exported outside of North America. This positions the U.S. as a supplier of low cost energy to the rest of the world.