In December of 2015 the United Stated lifted its ban on exporting domestic oil, and terminals up and down the Gulf Coast began vying for that business. Prior to the ban being lifted, only 10 countries were importing U.S. crude. Since then, that number has grown to 33. And it’s a trend likely to continue.
To impose sanctions or not to impose sanctions? That is the question the Trump Administration is grappling with in relation to Venezuela’s exports of crude oil to the U.S. The answer could have an impact on everything from the oil business in the United States to the current political and humanitarian crisis in Venezuela—attributed in large part to the repressive policies of President Nicolas Maduro.
“Bespoke.” The term has been around awhile, but in recent years it’s gained popularity as a way of conveying the idea of something made-to-order for a specific customer. In the world of fashion, a bespoke suit is a suit cut and sewn to the exact measurements of the buyer. Or in the everyday world of lunchtime options, a bespoke sandwich might combine any number of toppings and condiments.
With that example in mind, it might even be said that some of today’s biggest oil traders have created a kind of “Sandwich Shop at Sea”. When it comes to the blends they’ve made it their business to mix-and-match for the niche needs of their customers.
With the increase in America’s production and export of natural gas, some industry experts warn of bigger traffic jams among tankers at the busiest ports in the Gulf. The congestion is not exactly on par with an LA freeway at rush hour, but sizable enough to cause costly delays.
The multi-billion dollar investments currently being made in and near smaller ports along the Gulf Coast by some of the largest energy companies in the country are part of the long history of ports in the area.
It’s been said that you can never have too much of a good thing. But members of the Organization of the Petroleum Exporting Countries (OPEC), faced with the oversupply of crude, might take issue with that statement.
The “shale revolution,” as it’s been called, has led not only to the construction of new pipelines and LNG terminals, but also to a significant increase in this country’s energy exports. Less than a decade ago, U.S. gas production from conventional fields was in a downward spiral. And experts predicted that the country would become, of necessity, one of the largest importers of natural gas.
President Trump’s promise to build a border wall and have Mexico pay for it, possibly through new taxes on imported goods from that country, has economic analysts keeping a close eye on the evolving – and currently contentious – relationship between the U.S. and its neighbor to the south. Many wonder what impact the new Administration’s policies might have on energy trade between the two countries.