Here’s a little history nobody seems to remember, after Russia invaded Georgia in 2008, there were calls for new fuel export facilities, which, if approved, would have been on line now, letting the U.S. oppose Putin's use of energy-extortion today.
Fast forward to today. Currently, 20 applications for new natural-gas export terminals are pending at the Energy Department. The first plant is expected come on line in 2015; the second, in 2017.
A little bit too late for the present crisis, but wait a minute will the crisis change Obama’s real objective.
Obama argues that climate change must be attacked by eliminating carbon dioxide. And that means eliminating oil and natural gas, he has already taken care of coal through the EPA. Despite the fact that exports would create jobs, trim the U.S. trade deficit, and raise federal revenue—with the possible bonus of curb*ing Russia.
Democrats' current majority in the Senate even in the face of the Russian threat make it unlikely that a gas-export bill will land on Obama's desk this year. And if an energy bill did land on his desk he would stall it because the environmental groups who are his party’s core constituency oppose expanding the natural gas exploitation and exporting this commodity..
I speculate that he will resort to exporting the U.S. strategic oil reserves (just as his pal Clinton did) and use these exports to get through the crisis.While stopping the natural gas facilities until after mid term elections. Then he will lower the boom.
I listened to a representative of the Canadian government over the weekend talking about how wonderful the relationship between the US and Canada is. He kept on talking about the oil sand resources in Canada. I kept on thinking to myself yes you may have the resources but you seem to need US refineries to process the oil. The question of the Keystone oil pipeline was not raised, but I thought that the oil bitumen has to get to the market and after the oil tank railroad incidents. The Canadians might as well leave the oil in the ground and buy U.S. gas and oil. Well actually all they have to do is blackmail Obama by saying if you want our support give us all the fuel we need.
If President Obama got off the plane and on the phone he would cut down on Carbon dioxide in a meaningful way.