Increasing LNG exports
Posted: Wed Apr 26, 2017 11:10 am
Washington Examiner: "Energy Secretary Rick Perry on Tuesday approved the first permit under his tenure to ship natural gas to overseas markets, even as large U.S. manufacturers are warning the Trump administration that those exports could lead to skyrocketing energy prices in America. "This announcement is another example of President Trump's leadership in making the United States an energy dominant force," Perry said in approving the Golden Pass export terminal in Texas for shipping liquefied natural gas abroad. "This is not only good for our economy and American jobs, but also assists other countries with their energy security." With the Department of Energy's approval, construction of the export terminal will begin, a project that will create an estimated 45,000 direct and indirect jobs over the next five years, according to the agency. The project will provide an estimated 3,800 direct and indirect permanent jobs over the next 25 years of operation. The Energy Department also estimated that the facility will generate $2.4 billion in federal tax revenues and $1.2 billion in state tax revenues."
Not sure why it will cause "skyrocketing energy prices in America".
Bloomberg: "Liquefied Natural Gas Is All the Rage in the Trump Administration - The White House has a new darling in the energy sector: liquefied natural gas. First Gary Cohn -- President Donald Trump’s top economic adviser -- voiced support for a terminal in the U.S. Northwest that would send tankers full of LNG to Asia. Then Tuesday, Energy Secretary Rick Perry praised an export terminal proposed by Exxon Mobil Corp. and Qatar Petroleum in Texas that, he said, will create about 45,000 jobs during construction and position the U.S. as the “dominant exporter” of LNG to the world. His agency had approved the project for shipments earlier in the day. “We will continue to expand efforts so that there may be additional LNG announcements coming in the future," Perry said at a Bloomberg New Energy Finance conference in New York. LNG “advances our national security interests. It enhances our allies’ access to diverse sources of energy.” While Trump made the revival of America’s coal industry a hallmark of his campaign, his administration is waking up to the potential jobs bonanza offered by the two dozen applications to build LNG export terminals under review."
These big LNG facilities will be built with a lot of American steel by create a lot of high paying American jobs.
Not sure why it will cause "skyrocketing energy prices in America".
Bloomberg: "Liquefied Natural Gas Is All the Rage in the Trump Administration - The White House has a new darling in the energy sector: liquefied natural gas. First Gary Cohn -- President Donald Trump’s top economic adviser -- voiced support for a terminal in the U.S. Northwest that would send tankers full of LNG to Asia. Then Tuesday, Energy Secretary Rick Perry praised an export terminal proposed by Exxon Mobil Corp. and Qatar Petroleum in Texas that, he said, will create about 45,000 jobs during construction and position the U.S. as the “dominant exporter” of LNG to the world. His agency had approved the project for shipments earlier in the day. “We will continue to expand efforts so that there may be additional LNG announcements coming in the future," Perry said at a Bloomberg New Energy Finance conference in New York. LNG “advances our national security interests. It enhances our allies’ access to diverse sources of energy.” While Trump made the revival of America’s coal industry a hallmark of his campaign, his administration is waking up to the potential jobs bonanza offered by the two dozen applications to build LNG export terminals under review."
These big LNG facilities will be built with a lot of American steel by create a lot of high paying American jobs.