US oil exports help achieve energy security – ConocoPhillips CEO

05 March 2013 19:31  [Source: ICIS news]

HOUSTON (ICIS)--In order to achieve energy security, the US should incorporate oil exports, an industry executive said on Tuesday.

It is important to remain globally connected into the future in order to succeed, according to Ryan Lance, chairman and CEO of ConocoPhillips during IHS CERAWeek.

He explained that the US is set up to process heavier crude oil, but with lighter unconventional shale plays coming into the picture, the best way to take advantage of that may be to export it while bringing in lower value crudes.

“Energy security means staying globally interconnected,” said Lance.

Lance predicted that North America could become an energy exporter within the next 10 years.

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By: Anna Matherne

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