US Oil

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