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Is the US Accelerating toward Becoming the World’s Energy Capital?
(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)
Production of oil and natural gas in the United States is growing at a rapid pace due to technological advances. As a result, the US is approaching a position of becoming a net exporter of energy for the first time since the Fifties. Most energy exports out of the US will originate in the Gulf of Mexico as new pipelines move oil and gas from the Permian Basin (West Texas and New Mexico) to refineries in the Gulf. This new supply has the potential to make the Gulf of Mexico the largest exporting hub in the world within the next few years. Could this mean that the United States is becoming the new energy capital of the world?