Do the math – no, the U.S. can’t punish Putin by exporting oil and gas. [View all]

[dipsydoodle]

Can the U.S. direct our oil and gas exports to Europe (or Ukraine) to help?

In the short term: No, because the U.S. does not have excess natural gas or oil to sell.

In the medium to long term: Only if the U.S. has excess natural gas or oil to sell. There is a chance the U.S. could be a net exporter of natural gas within a decade, but almost no chance for becoming a net exporter of oil.

In the short term:

It is practically impossible for the U.S. to have any significant impact on Russia in the short term because today the U.S. is still a net importer of natural gas and oil. Yes, the U.S. is still a net buyer of both natural gas and oil from the rest of the world – not a net seller to the world.

See EIA data showing that NG imports (see here for EIA data) are greater than NG exports (see here for EIA data). For example, the EIA data for 2013 show 1572 billion cubic feet of exports and 2883 billion cubic feet (Bcf) of imports, meaning that despite all of the shale gas production, the U.S. is a NET IMPORTER of natural gas (mainly via pipeline from Canada) of 2,883 – 1,572 = 1,311 Bcf/yr.

Regarding the idea of sending natural gas to Ukraine, the Ukrainians imported 1,162 billion cubic feet (Bcf) of natural gas in 2012 (see here for EIA data). So currently, the U.S. net imports 2,883 – 1,572 = 1,311 Bcf/yr, which is about the same quantity of Ukrainian NG imports (1,162 Bcf in 2012)!

http://blog.environmentalresearchweb.org/2014/04/01/do-the-math-us-cant-punish-putin-by-exporting-oil-and-gas/