"US has a huge amount of offshore oil/gas reserves which have never been extracted."
No. The US has large unexploited offshore acreage expected to contain a large amount of oil and gas. Atm however this is only a prospective resource, not a reserves. First oil from those areas in any volume would likely be a decade away even if exploration commenced today.
Meanwhile US conventional oil continues to decline.
I don't believe the US will ever export gas in substantial quantity. That would have huge political ramifications even if it were economic.
EL
BOW Price at posting:
$1.39 Sentiment: LT Buy Disclosure: Held
