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US Policies toward Liquefied Natural Gas and Oil Exports: An Update

Author

Listed:
  • Cathleen Cimino

    (Peterson Institute for International Economics)

  • Gary Clyde Hufbauer

    (Peterson Institute for International Economics)

Abstract

Horizontal drilling and fracking are transforming global energy production, consumption, and trade leading to a surge of domestic production in the United States. Free exports of liquefied natural gas, crude oil, and other energy products are an essential complement of US international economic policy, which has long advocated free trade in raw materials, unconstrained by export barriers or restrictions. The Obama White House should prod the Department of Energy, the Department of Commerce, the Federal Energy Commission, and other agencies to speed up their approvals of such exports. Short of lifting full restrictions on crude oil exports, the Department of Commerce should build on its recent exemptions for ultralight oil condensate and exempt light crude oil from the current export prohibitions with determination that sales to Europe are consistent with the US national interest.

Suggested Citation

  • Cathleen Cimino & Gary Clyde Hufbauer, 2014. "US Policies toward Liquefied Natural Gas and Oil Exports: An Update," Policy Briefs PB14-19, Peterson Institute for International Economics.
    • Handle: RePEc:iie:pbrief:pb14-19
    as

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    File URL: https://www.piie.com/publications/policy-briefs/us-policies-toward-liquefied-natural-gas-and-oil-exports-update
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    References listed on IDEAS

    as
    1. Gary Clyde Hufbauer & Allie E. Bagnall & Julia Muir, 2013. "Liquefied Natural Gas Exports: An Opportunity for America," Policy Briefs PB13-6, Peterson Institute for International Economics.
    2. Trevor Houser & Shashank Mohan, 2014. "Fueling Up: The Economic Implications of America's Oil and Gas Boom," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 0000, January.
    Full references (including those not matched with items on IDEAS)

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