By Ryan Sitton
As technology has advanced, it has opened doors for the U.S. producer in new markets. Because of liquefied natural gas, U.S. exports are reaching more and more parts of the world, including Latin America, the Middle East, India and European nations.
This is good news for the U.S., and particularly good news for Texas producers. Texas is home to the best energy transportation infrastructure in the world and leads the nation in natural gas and oil reserves.
Texas is also the largest producer of oil and gas in the country. If Texas were a country, it would rank third in refining capacity in the world. With more than 400,000 miles of pipeline, we are the model for other oil and gas producing states and countries.
That’s why it’s important that Texas also leads the way in LNG exports. Hydraulic fracturing, a strong regulatory environment and an abundance of reserves make Texas the ideal exporter. We have met the needs of nations around the world and now, there is a huge opportunity for American natural gas to replace Russia’s stranglehold on the European market.
For too long Russian energy giant Gazprom has monopolized the European market. But, natural gas exploration in Europe is nearly nonexistent due to radical anti-fracking groups, so Europeans are left with only Russia as an energy source. This is where Texas, and the U.S., will fill the gap.
Reducing Russia’s monopoly of the market serves two purposes: first, it frees Europe from dependence on a volatile country. Second, it gives U.S. producers the chance to compete on a global scale and is a clear sign that the global energy industry is restructuring, and the U.S. is poised to come out on top.
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