A decade ago the idea of exporting natural gas from the U.S. would have been unthinkable. Now energy companies are lobbying federal regulators hard to get permission to sell cheap U.S. natural gas to overseas markets. A facility in Freeport, Texas becomes one of the first to receive conditional approval from the Energy Department to begin exporting liquefied natural gas (LNG).
The controversial practice of natural gas fracking has lead to a paradigm shift in U.S energy policy. New drilling techniques have resulted in a surge in natural gas production in the U.S. But energy producers have become so good at extracting natural gas from the ground they are no longer able to get a premium price for their product in the U.S.