facebook
twitter
rss
account
search
search
 

U.S. sparks fly over LNG exports

Dec. 6, 2012 at 8:24 AM   |   Comments

WASHINGTON, Dec. 6 (UPI) -- U.S. lawmakers are divided over a government report on possible LNG exports, with backers touting economic gains and detractors worried about who benefits.

NERA Economic Consulting produced a 212-page report under a commission from the Department of Energy. The report stated that potential exports of liquefied natural gas from the United States could have "net economic benefits" for the country.

"Net benefits to the U.S. would be highest if the U.S. becomes able to produce large quantities of gas from shale at low cost, if world demand for natural gas increases rapidly, and if LNG supplies from other regions are limited," the report states.

U.S. Rep. Fred Upton, R-Mich., chairman of the House Natural Resources Committee, welcomed the report, describing the U.S. natural gas sector as the "bright spot" in the U.S. economy.

The report said, however, that consumers may pay more as a result of the emerging gas boom. An increase in LNG exports, meanwhile, is "not likely" to affect the overall employment outlook in the United States.

"If exports are approved, the winners are mainly those in the natural gas business and those holding their stock," Rep. Ed Markey, D-Mass., Upton's counterpart on the committee, said in a statement.

Topics: Ed Markey
© 2012 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.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
British Reaper UAVs join the fight against Islamic State British Reaper UAVs join the fight against Islamic State
4
Russia doesn't fear Azeri gas, scholar says Russia doesn't fear Azeri gas, scholar says
5
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
Trending News
Around the Web
x
Feedback