Oil exports would have a quicker impact on Russia than LNG

Fuel Fix:
The quickest way for the United States to weaken Russia’s influence and help allies abroad is by exporting its crude oil — not its gas, Continental Resources CEO Harold Hamm told lawmakers on Wednesday.

Sending natural gas overseas requires the construction of multibillion-dollar facilities capable of transforming it into a liquid by chilling it to -240 degrees. And while one such liquefied natural gas export terminal exists in Alaska andanother is being constructed in Louisiana, it could be years before others are online.

By contrast, liquid crude oil can be immediately dumped into tankers and transported around the globe, Hamm said in testimony to the House Foreign Affairs Committee.

“Making America a world leader in LNG exports is a worthy goal, but . . . if we want to have an overnight impact on today’s global events, we can immediately begin exporting crude oil, which does not have the same infrastructure constraints,” Hamm said. “Crude oil exports are possible immediately and may be used as a diplomatic tool to weaken the influence of our geopolitical adversaries.”
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With the US still importing, I am not sure what the exports would do to drive down the prices the Russians get.  While I am not opposed to exporting, I suspect it would increase the price of some American oil.   What I prefer is a free market.  I don't like the artificial market manipulation imposed by the US on the supply of oil and its sales.

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