Wednesday, January 22, 2014
Well Titled Piece
The authors don't like a proposed gas liquefaction plant planned for a private property in Maryland on the Chesapeake Bay. Americans plan to liquefy (cool) some of the overabundance of natural gas we have in America and send it to places far away where the citizens are now paying 3 to 5 times the price we pay for natural gas in America. We help out the other countries with less expensive gas and help out America with jobs finding, producing and selling the gas for a better price than the local price. Sounds win/win to me but I'm apparently too dim to see that it would be better all around if, as the author's propose, such a plan never happens. "...this gas needs to stay in the ground." Fat lot of good it does anyone when it's deep in the ground.
On the economic side, a study commissioned by the DOE last spring found that exporting U.S. gas would raise the fuel’s price here at home. It’s basic supply and demand. More buyers overseas will drive up our domestic price by as much as 27 percent, according to the DOE. And that increase will reduce incomes for virtually every sector of the U.S. economy, from agriculture to manufacturing to services to transportation.