Thursday, August 5

Energy exports: The untapped U.S. option

U.S. Representative Mike Pompeo, writing in Politico:

Historically, we have lived in a nation of energy dependence. Dependence on others for our heating and electricity, and for our fuel for transportation. Yet today, for the first time in generations, we no longer need to view ourselves as living in a country of energy scarcity. The U.S. will soon overtake Saudi Arabia in hydrocarbon production. According to the Energy Information Administration, our nation is scheduled to have an energy surplus by 2030. We will create millions of jobs this decade right here in the United States simply by allowing that to happen. The only thing that can truly derail this staggeringly enormous opportunity for wealth creation: politicians and bureaucrats in Washington. …

If guided by property rights and freedom to buy and sell — or not to buy or sell — free trade will lead to enormous prosperity all across this great nation. Old ideas of not trading because “they won’t open their markets to us” miss the entire point of allowing goods to be imported into the United States — because we want and need them and because someone here believes that the good or service received in exchange for our dollars creates value for them. We now have the opportunity to be the “big exporter on the bloc” and generate the wealth that we’ve transferred to others for so long. Let’s get after it.

Full article is at Energy exports: The untapped U.S. option.