At least a dozen new oil pipeline projects are slated to move forward in the United States over the next few years.
All told, the new projects will have the capacity to bring at least an extra 2 million barrels a day of oil to the U.S. Gulf Coast by 2015.
The industry and most oil analysts think the additional oil will be used by U.S. refineries, offsetting the need of some oil imports and potentially lowering gasoline prices.
With prices for natural gas so low, and prices for oil-based fuels so high, the idea of building plants to convert natural gas directly into liquid diesel and jet fuel is something more companies are looking into.
“The U.S. has a vast resource in natural gas. Using it wisely can benefit our economy as well as our citizens. But care must be taken that we don’t sell too much too quickly and have the plan backfire and we have to start back to importing LNG.”