We have enough natural gas to prevent Russia from using theirs to strong arm Europe. All you need to know is that the Saudis are panicking over fracking in this country, the huge potential and the repercussions for the world market. We’re on track to stop importing 25% of the worlds oil. That’s a huge amount to be left in the market. Even with other country’s growth it still means an over supply and eventually lower prices. One analyst is predicting oil in the $20 range simply because of the massive supplies we’re developing.
We have the potential to destroy OPEC. If you thought the cheating within OPEC was a problem before, you haven’t seen anything.
By exporting LNG we’ll also affect the market for oil. It’s all good. We do need slightly higher prices to encourage more drilling.
I’m sure on Obama’s recent trip to Saudi he reassured them he is doing everything he can to stop fracking and the pipeline.
No serious analyst believes any such thing. Anyone saying $20 a barrel is a charlatan of some kind.