What does it mean for the world now that the United States is one of the largest producers of energy?

“Our plentiful oil supplies allow us to help our friends secure diversity for their energy resources,” Secretary of State Mike Pompeo said March 12 at an energy conference in Texas.

“We don’t want our European allies hooked on Russian gas through the NordStream II project any more than we ourselves want to depend on Venezuela for our oil supplies,” he said, referring to a proposed Russian gas pipeline in Europe.

Pompeo credited U.S. technology and free enterprise for turning the U.S. into the world’s top producer of oil, when only a few decades ago the U.S. was importing 60 percent of its oil. The U.S. also is producing record amounts of natural gas.

“Our model matters now, frankly, more than ever in an era of great power rivalry and competition where some nations are using their energy for malign ends,” Pompeo said at the Cambridge Energy Research Associates’ (CERA) energy conference in Houston.

Partners matter

Pompeo said the U.S. wants countries to have access to their own energy and to create partnerships. “We want transparent transactions, not debt traps,” he said.

The secretary noted that when Chinese companies invest in developing nations “they often ship in their own labor, creating jobs for Chinese workers rather than for those in the local economy” and leave the government with unaffordable loans.

“[The United States is] simply better to do business with than Russia, China, or Iran.”  — Secretary of State Mike Pompeo

Russia and Iran have a history of using energy as a political tool and have used their supplies of natural gas and oil as leverage over their neighbors, the secretary said.

Pompeo described the United States as a reliable, secure energy partner that will promote investment and best practices in economies and societies around the world.

“We’re not just exporting American energy, we’re exporting our commercial value system to our friends and to our partners,” Pompeo said.

“I have been touting the high standards of transparency, responsible financing, and adherence to the rule of law that American companies bring along with them,” he said, adding that it’s “what American businesses are known for.”