A recent report from the EIA shows that U.S. dry natural gas production is at an all-time high, while natural gas prices are their lowest since June 2020.
The war in Ukraine has drawn attention to the national security benefits that domestic natural gas can afford the U.S. While our European allies searched for alternatives to Russian energy, the U.S. was able to fill the gap by exporting our uniquely independent and abundant natural gas resources across the pond.
The war and its ensuing consequences have highlighted the necessity for the United States to remain energy independent. As a result of limited domestic energy resources, as well as an overreliance on Russia, some European countries—like France and Finland—increased their dependence on coal. Natural gas remains a significantly cleaner resource than coal, and so the increased production of natural gas is essential for lowering emissions and buffering a gradual shift towards renewable energy technologies.
As our allies continue to rely on U.S. natural gas, and the country increases production, our nation’s energy infrastructure most also expand accordingly. The United States’ largest crude export port, Corpus Christi, has begun to see some of these limitations in infrastructure as pipelines connecting the Permian basin to the port are running at about 90 percent capacity. Now, competition among companies and their investors is peaking as they sort out how to connect our abundant resources to the growing marketplace. Further infrastructure expansion, including additional pipelines and export terminals, is necessary to continue to move these fuels to bustling domestic and international markets more efficiently.