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Greenspan: Expand natural gas imports

July 11, 2003 at 9:17 PM   |   Comments

WASHINGTON, July 11 (UPI) -- Federal Reserve Board Chairman Alan Greenspan repeated a call Friday for increased imports of liquified natural gas.

Greenspan told a Senate panel, "Access to the world natural gas supplies will require a major expansion of LNG terminal import capacity and the development of the newer offshore regasification technologies."

Greenspan told the Energy and Natural Resources Committee, "Without the flexibility such facilities will impart, imbalances in supply and demand must inevitably engender price volatility."

The call for increased imports prompted Wyoming lawmakers to urge a continued emphasis on increased domestic production.

The Casper, Wyo., Star Tribune said committee member Sen. Craig Thomas, R-Wyo., responded to Greenspan's comments by urging him to consider the importance of increasing the production of natural gas on federal lands and the use of coal to generate electrical power.

© 2003 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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