The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn't the most obvious customer for Texan oil.
Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly from the U.S. in December, according to data from the federal government. A tanker sailed from Houston and arrived in the Persian Gulf last month.
Our oil exports are small. Our natural gas exports are huge. The exported oil is to keep the Arabs from sucking their own wells dry.
You folks may remember back a few years ago, when gasoline was over $4/gallon, I was helping design a facility in LA that was the first facility licensed to export nat. gas.
America first, my ass!!!
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