Natural Gas to Flow Overseas, Highlighting Oil and Gas Industry Double-Talk
On this day when millions of Americans pay their dues to Uncle Sam, it is especially ironic to hear that the oil and gas industry, already a major beneficiary of federal tax breaks, has been granted another gift at taxpayers expense.
Statement of Food & Water Watch Executive Director Wenonah Hauter
Washington, D.C.—“On this day when millions of Americans pay their dues to Uncle Sam, it is especially ironic to hear that the oil and gas industry, already a major beneficiary of federal tax breaks, has been granted another gift at taxpayers expense. Yesterday, the Federal Energy Regulatory Commission gave final approval for plans to export liquefied natural gas, which will allow the industry to fetch higher prices for American gas in European and Asian markets. This move promises to raise natural gas prices for American consumers and to accelerate the pace of drilling and fracking for natural gas.
“Cheniere Energy’s Sabine Pass natural gas liquefaction plant is a poster child for the misleading nature of the oil and gas industry’s promise that shale gas fracking will help U.S. energy independence. How does sending American gas overseas deliver energy independence here at home? The only thing it does is ensure future profits for the oil and gas industry and its financial underwriters.
“Analysis by Food & Water Watch finds that while U.S. natural gas consumption is actually expected to decline through 2015, it is expected to increase overseas—as much as 44 percent by 2035, with China and India leading that demand.
“While the oil & gas industry profits from extracting and selling natural gas as rapidly as possible to thirsty foreign markets, Americans will be the ones left with the public health and environmental consequences of widespread drilling and fracking and the higher costs to heat their homes next winter.”
Contact: Kate Fried, Food & Water Watch, (202) 683-2500, kfried(at)fwwatch(dot)org.