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Press Release: President’s Executive Orders Show Support for Infrastructure Investment

President’s Executive Orders Show Support for Infrastructure Investment
Expediting Keystone XL and Dakota Access pipeline projects is right decision for U.S. economy

WASHINGTON, DC – The American Council for Capital Formation today released the following statement from ACCF Vice President of Communications Robert Dillon on President Donald Trumps’ executive orders expediting the Dakota Access Pipeline and Keystone XL Pipeline projects:

“In signing the Keystone XL and Dakota Access executive orders, President Trump is following through on his campaign promise to reverse the previous administration’s approach of abusing the regulatory process to pursue a political agenda. Unfortunately, that agenda came at the expense of the U.S. economy and American jobs. Today’s action by President Trump not only respects the rule of law, it also signals that America is once again open for business. Investment, growth and job creation should be the cornerstone of the President’s agenda and today’s executive orders reflect that commitment.

“Over the past several years, the United States has reemerged as the world’s leading energy producer. Unfortunately, our infrastructure has not kept pace and additional economic growth has been held back by a lack of pipelines and other energy infrastructure that have become the targets of special interest groups. Basic infrastructure projects like Keystone XL and Dakota Access pipelines – and the economic activity and jobs that accompany them – are long overdue.

“The American Council for Capital Formation is pleased that the new administration has revisited these two important projects and taken a pro-growth approach to our nation’s energy sector.”

The American Council for Capital Formation Center for Policy Research is a nonprofit, nonpartisan economic policy organization dedicated to the advocacy of pro-growth tax, energy, environmental, regulatory, trade and economic policies that encourage saving and investment.

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Natural gas production to make U.S. a net energy exporter

State Impact | 1/5/17

Within the next decade, the U.S. could be exporting more energy than it imports, something that has not occurred since the early 1950′s. The Energy Information Administration projects that under a number of different scenarios, exports of natural gas will increase as petroleum liquid imports decrease, making the country an energy exporter by 2026.

The U.S. typically imports crude oil, and exports products like diesel and gasoline. An export ban on crude oil was lifted in 2015, while new liquefied natural gas (LNG) export terminals began shipping gas overseas in 2016. Additional LNG terminals are planned within the next several years, including one in Lusby, Maryland, which will be converting Marcellus Shale gas to LNG for export. Operated by Dominion Resources, the Cove Point terminal is scheduled for completion at the end of 2017.

Full story here.

United States may become net energy exporter by 2026, EIA reports

CNBC | 1/5/17

The United States could become a net exporter of energy by 2026 as domestic production rebounds and demand at home remains flat, the U.S. Energy Information Administration said Thursday in a new report.

In its Annual Energy Outlook 2017, the EIA sees a surge in natural gas exports and improvement in the trade balance of petroleum products causing the United States to become a net energy exporter by 2026. It would be the first time the nation held that status since 1953.

As a net exporter, the United States would still import oil, natural gas and other energy sources, but it would send out more of these products produced at home than it takes in from foreign sources.

Full story here.