The production of domestic oil and gas in the US provides the country and its allies with extra security over potentially hostile countries, such as Russia, energy analysts have told a House Foreign Affairs committee.
Kenneth Medlock, senior director of the Centre for Energy Studies at Rice University, said the US poses a “credible threat” to Russia’s intention to dominate the European energy sector.
He told the subcommittee: “The U.S. is on the cusp of actually having significant, significant impacts globally for the next several decades as a result of what’s happened domestically.”
Sarah Ladislaw, director and senior fellow of the Energy and National Security Program at the Centre for Strategic and International Studies, said US oil and gas production is at record levels, giving the market “resource optimism”.
However, Laidlaw said this dominance does not mean security is guaranteed as bottlenecks in delivery systems “impede rapidly growing oil and gas production in the Permian Basin in Texas from reaching end markets.”
The chairman of the subcommittee Ted Poe (R-Texas) said the growth of America’s presence in the global energy sector has reduced its reliance on Russia and Venezuela.
Poe said: “With growing energy independence, we can pick our allies rather than have them picked for us by the necessity of access to oil.”
Samantha Gross, a fellow at the Brookings Institution, highlighted the importance of sanctions the US has recently imposed on other nations.
She said: “The reason why these sanctions … will be so effective is that they’re focused on the U.S. banking system, and so you can’t clear Iranian oil or gas through the banking system.”
Poe also reinforced the significance of the relationship between the US, Canada and Mexico in the global energy field, which makes up 20% of the world’s oil and gas supply.
He said: “Our integrated energy network makes North America a rock of stability and prosperity in the world.”
Earlier this year, US President Trump fulfilled his promise of attaining energy dominance, which was largely achieved through the significant resurgence in US exports of coal to countries across the globe, including India, South Korea, the Netherlands and Brazil.
Meanwhile, the White House is considering a “Clean and Advanced Fossil Alliance” to advocate for coal and natural gas technology with a list of other supportive countries, according to administration sources.