When geography, corporate interests and politics align the US is an unstoppable force.
The latest example is shale gas production which has blown away projections from a few years ago. Natural gas exports will be the next frontier.
It was only 10 months ago that Obama approved the first permit to export liquified natural gas. Then over the summer he approved 5 more and dozens more applications are in the queue. A few years ago, Canada was way ahead in the race to become the natural gas export hub of North America but has absolutely bumbled the advantage. Meanwhile, Australia has played its cards right and is years ahead of the US.
With the crisis in Ukraine emphasizing Russia’s power in the gas market, the US political and industrial machines have mobilized. Republicans are now on board and Boehner said just now that the US has more natural gas than it needs and exporting LNG creates American jobs.
It will take some time to build US export capabilities but when the stars align, never bet against the US. The way that country is capable of marshaling investment and getting projects completed is a marvel. Shame they don’t do it more often.
