Arlington, VA – The American Consumer Institute (ACI), a nonprofit organization dedicated to consumer welfare and market-driven solutions, has submitted comments on the U.S. Department of Energy’s (DOE) recently released 2024 LNG Export Study: Energy, Economic, and Environmental Assessment of U.S. LNG Exports. The study was commissioned to evaluate the economic and environmental effects of liquefied natural gas (LNG) exports, specifically focused on concerns regarding potential price increases and emissions. ACI strongly supports the continued expansion of U.S. LNG exports, citing substantial economic, environmental, and energy security benefits.
Key Takeaways:
- Economic Growth and Job Creation: U.S. LNG exports have contributed $408 billion to the nation’s GDP since 2016 and have supported an average of 273,000 domestic jobs. Expansion of the industry is expected to generate $1.3 trillion in GDP contributions and nearly 500,000 jobs by 2040.
- Stable Domestic Energy Prices: Contrary to concerns that LNG exports drive up domestic gas prices, historical trends indicate that record-high LNG exports have coincided with relatively low domestic natural gas prices. Increased natural gas production ensures price stability while meeting domestic and international demand.
- Environmental Benefits: Natural gas is crucial in reducing global carbon emissions by replacing coal-fired energy generation. While the DOE study suggests minor emission increases, broader analyses indicate that LNG exports facilitate global emissions reductions by enabling a transition from higher-emission energy sources.
- Energy Security and Geopolitical Stability: U.S. LNG exports provide key allies and trading partners with a reliable energy source, reducing dependence on geopolitical adversaries and enhancing global energy stability.
ACI urges policymakers to recognize the significant role of LNG exports in fostering economic growth, maintaining energy security, and supporting environmental objectives. Ensuring continued investment and expansion in the U.S. LNG sector is essential to meeting domestic and international energy needs. ACI calls on regulators and legislators to support policies that enhance consumer energy abundance, reliability, and affordability.
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