Gas Exports Already Surge - To Canada and Mexico
No need to worry about the question of natural gas exports. Even as the Department of Energy review the 20-odd applications for LNG export terminals (it’s approved three), pipeline exports to the rest of North America are surging. Exports to Canada have doubled since the fracking boom began in 2006 and shipping to Mexico has doubled since new pipeline construction was completed in 2010. Those folks in Texas don’t sit around waiting for the bureaucrats in Washington to make up their minds. It’s a good thing as well, since Mexico is now reporting natural gas shortages as production from Pemex declines and President Enrique Pena Nieto’s proposal to bring in private investors meets populist opposition. Once again, the freewheeling wildcatters from the Lone Star State come to the rescue.