Policymakers Should Promote Progress in Natural Gas Markets
The Dallas Morning News published an opinion editorial by Bill Godsey, owner and president of Geo Logic Environmental Services and a former geologist for the Texas Railroad Commission. In the piece, he discusses how far the U.S. has come in natural gas production and rather than “shrinking back” to the mentality held in the 1970’s, policymakers should look ahead to the progress and evolution of the natural gas market and understand the benefits it brings. He explains:
“Since the United States began shipping LNG overseas in 2016, 35 countries have received shipments, from China to South Africa. The result has been a reliable price floor that’s allowed demand to remain sufficiently high to support continued growth, while still keeping costs down for American consumers. Moody’s analysts forecast in the spring that in the absence of export markets, natural gas prices could ‘tumble.’”
Godsey highlights incoming projects like the Texas-based Port Arthur LNG and Corpus Christi LNG terminals along with the numerous export terminals under construction in Louisiana that once completed, will be critical in expanding the energy infrastructure network within the country and contribute to increasing the U.S.’s capacity for natural gas production.
As Godsey notes in the article, LNG export terminals are essential to ensuring energy security and securing U.S. energy dominance. He adds:
“Consider that exports are helping wean other countries off other fuels that are heavy emitters of carbon dioxide. And at the same time, these exports are creating American jobs, supporting manufacturing and business, and helping to keep costs low for consumers by sustaining U.S. production.”