The oil and gas industry is pushing Congress to accelerate exports so that it can increase natural gas prices here. Two U.S. Department of Energy reports confirm that liquified natural gas exports result in increased domestic natural gas prices. This is exactly what happened in Australia, which has been exporting liquified natural gas for more than a decade. Now, natural gas prices have tripled, and manufacturing companies are being asked to pay the higher liquified natural gas export price and are closing their doors. On March 27, 2014, ABC news reported that families are going without food and medicine to pay their energy bills. The report states The irony is that Australia is producing more gas than ever, and is on track to become the worlds largest exporter of gas, with contracts to supply fuel-starved Asian markets prepared to pay triple the prices Australians do for energy.
Posted on: Fri, 25 Apr 2014 16:18:16 +0000
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