US Representative Pete Olson has issued the following statement in support of efforts to increase US exports of liquefied natural gas (LNG) to weaken Russia’s economy:
"The US is blessed with control over our own energy destiny. Crude oil imports have fallen dramatically to below 50% of demand for the first time in decades. On natural gas, we are almost entirely self-sufficient and much of our remaining imports come from friendly nations like Canada.
Russian natural gas
"This is in stark contrast to what Ukraine faces today. As they fight for their freedom, they are cognizant that on two occasions Russia has cut off shipments of natural gas in the last decade. Gas, which is used everywhere from inside the home to critical factories, is vital to the Ukrainian economy. While Ukraine has reduced its need for Russian natural gas in recent years, this crisis exemplifies how energy security is a crisis around the world.
"The US has an entire continent of affordable natural gas. Now is the time to move forward with more energy exports. We've seen that the impact on prices at home will be small, while the broader economic benefits are powerfully positive. Increasing our exports allows us to serve as staunch supporters of our allies and weaken efforts to use energy as a weapon.
Global energy security
"I'm a strong advocate of cutting red tape to expedite gas exports at every level. It's time to act - energy exports are good for our economy, our national security, and global energy security for allies like Ukraine."
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/05032014/representative_supports_efforts_to_increase_lng_exports_248/