Yogi Berra once famously said “A nickel ain’t worth a dime anymore.” If he had been talking about EPA’s Regional Haze regulations, he could have been talking about a whole lot more nickels--$2 billion dollars worth to be exact.
Yesterday, Reuters reported that crude oil exports from the United States reached their highest level since the 1920s. Using Census Bureau export data, Reuters calculates that crude shipments averaged 662,000 barrel per day in May.
The total quantity is only part of the story, however. Since the boom in U.S. crude oil production really started to take hold in 2012, exports of crude oil increased from 47,000 barrels per day in 2011 to 458,000 barrels per day in 2015. In the first five months of 2016, they’re running at a clip of about 500,000 barrels per day in 2016.
New England is forced to import LNG because of the region’s “not in my backyard” attitude toward pipelines. It’s time to build more infrastructure! http://bloom.bg/29HzBV8