In the last decade, the U.S. oil and gas industry won a long-fought battle to lift federal restrictions that limited exports so that it could take full advantage of the shale revolution.
Today, that is one of the key reasons why the U.S. is unable to control the price of gasoline, diesel, and natural gas at home.
In the wake of Russia’s invasion of Ukraine and the resultant economic uncertainty, calls for self-sufficiency are likely to be amplified.
The U.S. oil and natural gas industry long fought for and in the last decade finally won release from federal restrictions that limited exports. The ostensible reason was that because of the so-called “shale revolution” in the country’s oil and gas fields, the United States would have plenty of oil and gas to spare for export.
The real reason behind the push was that the oil and gas industry wanted what