We didn't export before per government policy. Now we do. Open new markets, sell more product. I suppose the demand was always there, we were just cutting ourselves off at the knees by not filling it.
There has never been a government policy prohibiting the export of LNG. There was no business interest in exporting LNG until 2008/2009 because we had insufficient supply prior to then. The first LNG facility built was for import. Chenierre decided to reconfigure for export when their business plan became untenable. There are rules on what companies can receive US LNG without approval but approval has never been a hurdle,
I figured it was just like our oil.
Oil export was restricted when domestic supply was decreasing through the last decades of the 20th century. The previous administration loosened the rules for lightly processed oil as supply was increasing from unconventional basins. Congress lifted the full ban in early 2016. Light crude has become an important export commodity. US must still import heavier crude grades.
"I suppose the demand was always there, we were just cutting ourselves off at the knees by not filling it."
Yes, this is exactly what we were doing. Exporting has been a game changer.
I agree with the 3 points mentioned by dbob and skip.
GO NATURAL GAS!
$3.92 for those keeping score.
LOL! Tis the season.
Over 4 bux this morning.
Frigid Winter - No Sunspots - LNG