If US oil pipelines
are built and global demand for oil continues to increase, the US will become a
net exporter of oil soon. This will have
a significant impact on the US trade balance and should result in the US achieving
a tighter trade balance. The US is
already a net exporter of liquid natural gas and those gas exports will also
help the trade balance.
The cost of building
an oil pipeline is $6.6 million per mile. There are many pipeline projects
being planned and implemented to allow oil and gas to be transported to market
safely and inexpensively. Oil and gas companies are spending $billions to build
these pipelines. Where governments help expedite this construction, jobs will
be added to their States. The first jobs
are construction jobs and the continuing jobs are pipeline operation and
maintenance jobs.
At $70 /bbl. our
current production of 11 million bbd. Is worth $770 million per day or $281
billion per year. When we can produce the 20 million barrels of oil we consume
in the US each day, we will be able to permanently subtract $281 billion a year
from our trade deficit. If we then can
become a net exporter of oil, we can also subtract that to our trade deficit.
Norb Leahy, Dunwoody
GA Tea Party Leader
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