The diplomatic rhetoric surrounding Ukraine’s Crimean Peninsula and Russia’s apparent aim to annex the historically Russian-dominated territory has gone nowhere in recent days. But the conversation surrounding Europe’s dependence on Russian natural gas has.
Surprisingly — or not, depending on who you ask — the recent energy executive meet-and-greet planning sesson in Houston, CERAWeek, featured a lot of talk around the concept that the U.S. could and should release its sizable natural gas reserves to the larger global market, especially when natural gas consumption is a factor in the diplomatic showdown with Russia.
“The idea that the US had too much energy and we could export some of it was preposterous,” Wall Street Journal senior energy reporter Russell Gold told On Point during our Monday hour on just that topic. “All of sudden, we have more natural gas than we know what to do with. But the CERAWeek executives were keen on the concept, Gold said. Current legislation forbids the export of American natural gas, but the changing face — and collision — of the energy and diplomatic spheres might change that, and soon.
“This time last year, nobody was talking about speeding up energy exports,” Gold said. “Europe would love to get more gas from the United States.”
Gold did a fantastic job laying out the outlines of the energy market for us today. Take a listen to his segment, and see if energy executives have something in their push for increased energy exports.