• 5 minutes Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Starvation, horror in Venezuela
  • 5 hours WTI @ 67.50, charts show $62.50 next
  • 3 hours Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 4 hours Mike Shellman's musings on "Cartoon of the Week"
  • 9 hours Venezuela set to raise gasoline prices to international levels.
  • 14 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 28 mins Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 3 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 16 hours Renewable Energy Could "Effectively Be Free" by 2030
  • 8 hours Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 15 hours Corporations Are Buying More Renewables Than Ever
  • 4 hours Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 20 hours Again Google: Brazil May Probe Google Over Its Cell Phone System
  • 5 hours France Will Close All Coal Fired Power Stations By 2021
Trade War May Push China To Russian Energy

Trade War May Push China To Russian Energy

As trade war tensions heat…

Are The Saudis Involved In The Tesla Buyout Plan?

Are The Saudis Involved In The Tesla Buyout Plan?

Saudi Arabia’s Public Investment Fund…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

US Lawmakers Want a Quicker Decision on the Fate of Exporting Shale Gas

The shale gas boom in the US has opened up the possibility for exporting LNG to markets around the world where it could be sold for far higher prices than at home. Obviously gas companies are eager to do this, but first they need the idea to be approved by the Obama administration and then local lawmakers.

Yesterday more than twelve Western state lawmakers signed a letter which was sent to Energy Secretary Steven Chu urging him to work faster on the review of the decision, after the Energy Department announced it would have to wait for the results of an important study that will guide future export decisions.

In the letter the lawmakers said that “we strongly urge you to avoid any delays in the approval process for pending projects and ask for renewed urgency in completing the macroeconomic study.”

One of the results of allowing companies to export natural gas is an increase in gas prices in the US. The Energy Department must determine whether the economic benefit from selling the gas abroad at a higher cost will be worth the increase in gas prices domestically.

RELATED: Big Oil Funding U.S. Politics

The letter also stated that “creating more opportunities to sell natural gas into global markets and access overseas customers could help the goals of increasing natural gas use and smooth out historical boom-bust cycles. Realizing sustainable natural gas prices will continue to stimulate the resurgence of U.S. manufacturing, power generation, chemical and agricultural sectors, as well as continue to keep costs low to heat our homes and fuel our nation’s transportation needs.”

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News