WASHINGTON (AP) - A domestic natural gas boom has lowered U.S. energy prices while stoking fears of environmental disaster.

Now U.S. producers are poised to ship vast quantities of  US gas and oil overseas as energy companies seek permits for export projects that could set off a renewed frenzy of fracking.

Expanded drilling is unlocking enormous reserves of crude oil and natural gas, offering the potential of moving the country closer to its decades-long quest for energy independence. However as the industry looks to enormase profits from foreign markets, there is the specter of much higher prices at home and increased manufacturing costs for products from plastics to fertilizers.

Companies such as Exxon Mobil and Sempra Energy (SRE) are seeking federal permits for more than 20 export projects that could handle as much as 30 billion cubic feet of natural gas a day.

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Uh huh, of course they'll export our gas and oil to who ever pays top dollar! It's the reason for Keystone pipeline. Move the tar sands oil to a refinery that is on the coast and that has oil export facilities.

You think they were doing it to help out U.S. customers?

No. We just give them tax breaks, let them destroy our environment in the drilling process, and let them take the final product away from us.

Sure...Why not...Lets ship it all overseas... more customers...more profit...use claims of resulting diminished reserves and shortage possibilities to drive up prices domestically...more profit again...probable huge bonuses for gas/oil execs. larger bribes for the politicians and bureaucrats they own...Win win for everyone...Except those of us who pay to use the product!

National Resources should belong to the citizens of this land...same as other national treasure.....Oh wait, that's Socialist!

Drill baby drill our way to energy independance??  

Spot on. I couldn't agree more.

If we quit supplying Japan and a few other countries we'll have enough. The dam oil companies can get more money for it selling it overseas, that's why they do it. Most of the oil coming down that pipeline is headed for Japan, that's why I'm against it. Washington should stop Exon Mobil and the other oil companies from selling overseas. Think of all the money the government would save pulling completely out of the Middle East. We'd be out of debt in no time. Gas would cost $2 a gallon. The economy would come back, but the greedy bastards on Wall St control the world.

If we quit supplying Japan and a few other countries we'll have enough. The dam oil companies can get more money for it selling it overseas, that's why they do it.

it's a flat earth today.

Thanks Star. Web does that make sense? Is the earth round again. Other than providing several temporary jobs the pipeline will not help us. It isn't worth the damage it will cause to the environment.

Web you don't go to Japan or Germany and fight for your motorcycle. It is hurting this country shipping our oil overseas and then fighting for more in the Middle East. Look what its costing our government to reclaim the oil we ship overseas not to mention the loss of life. All because the oil companies can get richer. That's Capitalism at its finest, getting American soldiers killed so the oil companies can profit more.