Natural gas glut fuels export debate

[FreakinDJ]

Simone Sebastian

Debate is brewing over whether to keep the nation's glut of natural gas at home for cheap energy or export it at five times the price, possibly creating jobs and boosting the domestic economy.

Businesses that purchase natural gas for industrial and residential use have rallied against proposals to liquefy and export the fossil fuel to Asian and European nations willing to pay much higher prices.

Nine companies have sought federal approval to export about 10 billion cubic feet of liquefied natural gas per day, which would boost prices for U.S. customers.

Cheniere Energy's Sabine Pass LNG plant in Louisiana already has won approval to ship out more than 2 billion cubic feet of liquefied natural gas a day.

http://www.chron.com/business/article/Natural-gas-glut-fuels-export-debate-2519787.php

Glad to know we will get some thing out of all the pollution in our water

[Zalatix]

1. Woah, woah, woah, wait a second.

If you keep the natural gas at home how does this produce less jobs than exporting it?

Selling it at 5 times the price doesn't create jobs, it just puts more money into the hands of the company's owners. They're not going to hire more people, they're just going to work their existing staff just that much harder.

How do we let America get hoodwinked by this...

[appleannie1]

2. Exactly. People in this country are going cold because they can't afford it now.

[Zalatix]

3. IIRC this happened in Ethiopia, too, or another African country.

Rather than sell or distribute the food they were producing domestically, they opted to export it for greater profits.

People starved as a result.

[arcane1]

4. I'd rather nationalize those companies, keep the gas here, and reduce extraction to match demand n/t

[banned from Kos]

5. This isn't Venezuela. We have laws against that - like the 5th Amendment.

That said natgas burns much cleaner than coal (50%) and 20% cleaner than oil.

Also - vs a gallon of gasoline - nat gas cost just over $1.00 to drive on.


The problem is the fracking and and pollutants involved in it.

[GoCubsGo]

6. Glut?

You could've had me fooled. My natural gas bill was 20% higher than it was this time last year--and this has been a warmer-than-usual winter. What a crock! These are the same assholes that tell us we need that pipeline from Canada because it it would make gasoline and fuel oil cheaper here. But, they fail to tell people that this pipeline ends at the Gulf, not at some refinery. And, nobody seems to be able to put two and two together on that. Why expect some thing different with regards to LNG? Sad.

[banned from Kos]

7. There is a big glut. You should look at your contract.

If you have a variable rate you pay nearly double.

nat gas is at a 10-yr low - $2.71

[GoCubsGo]

8. I don't have a contract.

I pay whatever the utility company charges its customers.

[banned from Kos]

10. Here are the rates in Georgia - .99c per therm for no contract vs .59c per therm

http://www.georgiagasrates.com/compare-natural-gas-rates.html

In my state you save 40% with a contract.

[GoCubsGo]

13. My utility provider does not give such an option.

You pay 99 cents per therm PERIOD.

[Zalatix]

9. Does your provider have a monopoly on nat gas service?

[GoCubsGo]

11. Yes.

[Zalatix]

12. Ah, there's your problem right there.

Even if natural gas could be extracted for free, the monopoly in your area will jack up prices to make an insane profit.

They do it because they feel you have no alternatives.

[MADem]

14. Why not just STOP the friken frackin? nt