elliot_mllr

Smells Good: The Case for Natural Gas

One slight correction. The "giant sucking sound of $700 billion a year leaving the US " does not go primarily to the Middle East and Russia. Our number one source of crude is Canada and will be for the foreseeable future. Our number two source is Mexico at least until the Canterall field depletes (expected in 8 years). Our number three source is Venezuela (not better than Russia or the Middle East but the fact is that it is our number three source). Saudi Arabia is our fourth largest source of oil. And the amount we send abroad is $660 billion, not $700 billion. Otherwise an excellent article, but it should be emphasized that LNG shipments are being swooped up by Asia and Europe before the tankers ever arrive here (or even leave Qatar) and the new Cheniere regas facility in La. is operating below capacity.