There are still significant hurdles to clear before the US becomes a major energy exporter. Indeed, the US (in contrast to North America as a whole) may never quite achieve full energy independence. Nonetheless, increased US exports – or at least a further reduction in net imports – should add to the downward pressures on global energy prices over the longer term. There are also some steps that the US could already take to support the EU in the event of an escalation of tensions with Russia.
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