I wrote back in the beginning of November that we can expect an abundance of domestic oil and gas but not low price oil and gas. I said this because what the candidates refused to say was that while it is abundant the fact it all can be exported means it will almost always stay around the world price for oil and gas. My thesis was if the price in the US just became too cheap all of it would be exported.
I hate it when the facts prove this out.
Today in the Wall Street Journal there is an article titled "US Gas Exports Clear Hurdle" and it is talking about a Government study which said was good for the economy if we "liquefied and exported" natural gas. Voila.. your "cheap domestic source of energy" has just evaporated into a world price domestic source of energy. So, those expecting a great amount of domestic energy and all the good things that come with this should be happy.
Those who expected "cheap" energy will be disappointed.