An inviting opportunity for the American energy renaissance

Washington Times ^ | March 22, 2015 | William O'Keefe

[thackney]

Last month the White House submitted President Obama’s annual economic report to Congress. Nestled in the findings is a compelling case for lifting the country’s antiquated ban on natural gas exports.

“An increase in U.S. exports of natural gas, and the resulting price changes, would have a number of mostly beneficial effects,” the report states, for domestic employment, geopolitical security, our energy industry and the environment. The report ticks off numerous benefits — “create jobs in the short run,” “lower natural gas prices around the world,” “promote the use of cleaner energy abroad” — that make clear the question is not whether the United States should reconsider restrictions on natural gas exports, but when will policymakers step up to economic reality.

The value of lifting export restrictions on domestically produced liquefied natural gas (LNG) is becoming glaringly apparent. The Obama administration’s latest report not only adds to the body of evidence indicating now is the time to act, it reaffirms that doing so aligns with the president’s priority of promoting clean, sustainable energy here at home and abroad.

Yet some lawmakers in Washington remain on the fence, or worse, are actually trying to walk back efforts to streamline the export process. Late last month, Democratic Sens. Barbara Boxer of California, Al Franken of Minnesota, Ed Markey of Massachusetts and independent Sen. Bernie Sanders of Vermont introduced legislation to bog down the Department of Energy’s review process of LNG export applications. Their bill comes in the face of mounting agreement among experts and policymakers that as a country, we should be expediting the process, not slowing it down.

There is a global appetite for the natural gas resources the United States is fortunate to have in spades. In Europe_and Asia natural_gas prices exceed three and four times those here the States...

[bestintxas]

As the amount of natural gas available now and in future are multitudes more than the amount of oil in this country, we have to begin at sometime to exploit God’s gift to us.