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US looking to become world leader in clean fossil fuels export.


Date: 23-10-2017
Subject: US looking to become world leader in clean fossil fuels export
Washington (PTI) The US is looking to become a world leader in the export of clean fossil fuels, a senior Trump administration official has said as friendly countries like India, which have massive energy needs, have for the first time started importing crude oil from it.

Export of clean coal, oil and natural gas is seen by President Donald Trump as one of the major ways in which the US can address its trade imbalance with countries like India, which depends on massive import of oil and natural gas to address its burgeoning energy needs.

"The president as you would expect him to be is an advocate for America first, just as other presidents advocate for their countries and their interests. And what America first means in terms of economic development is the president advocates for the growth of the American economy and good jobs for Americans," the official said.

"He thinks an area that holds tremendous potential is to address some of the very significant trade imbalances that exist. And a way to do that is to foster energy security that leads to economic growth and development that in turn leads to greater demand for products including American products," the official added.

Another way to advance that is through trade ties that are based on reciprocity and fairness. The US will soon be the largest producer of energy in the world, the official said.

"Thats going to include a very significant export market. In clean coal oil and natural gas. While the president is very committed to having the cleanest air the cleanest water possible, he also knows that that is a key to that is not only renewable sources of energy but it is also clean fossil fuels," the official said in response to questions on first American shipment of crude oil landing in India early this month.

Indian oil companies plan to import crude oil worth USD 2 billion in the next one year, which might be helpful in addressing the trade imbalance figures which Trump has mentioned in his remarks a few times.

"The US looks to become the world leader in the development and export of clean fossil fuels," the official said.

The Trump administration has welcomed the export of its crude oil to India and sees this as a very positive development in strengthening bilateral trade and strategic relationship.

Source : India Today


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