Just a single proposed terminal that I talk about in the New Yorker piece—the so-called CP2 LNG plant proposed for Cameron Parish, Louisiana—would over its lifetime be associated with twenty times the greenhouse gas emissions of the huge Willow oil complex that Biden controversially approved earlier this year.
The most curious natural gas story of the year so far comes out of Boston and seems to have echoes of a deepening Russia-related scandal in Washington. A liquefied natural gas (LNG) tanker bearing natural gas produced in part in Russia delivered its cargo to the Boston area for insertion into the natural gas pipeline system there. Apparently, the Russian company that supplied some of the gas may fall under U.S. sanctions against the financing and importation of Russian goods.
A new industry report warns investors, governments and regulators that renewable forms of energy could outcompete high-cost and high-risk liquefied natural gas projects.
Credit Suisse reported that there is not enough East coast gas for 3 LNG export terminals at Gladstone, Queensland. If that is the case then it is doubtful whether there will be sufficient gas to replace petrol and diesel by gas as transport fuel.
Where is George Orwell when you need him? It is a supreme irony that cornucopian oil industry mouthpiece and consultant Daniel Yergin should receive America’s first medal for energy security named after James Schlesinger, the first U.S. energy secretary.
Let me get this straight: you want to flood a pristine valley in Canada to generate power so you can ship natural gas overseas to keep Asia’s lights on?
There is no U.S. oil and gas export "weapon" to aim at Russia to counter its moves in the Ukraine. The U.S. isn’t even supplying its own needs. But you wouldn’t know that from media reports and editorials in the last week.
The Obama administration has come out in support of the idea of exporting U.S. natural gas. This stance is counterproductive and shortsighted, and if followed, it will prove harmful to domestic manufacturing (i.e., value generation) and to future generations of Americans.
There is one segment of U.S. industry that ought to be cheering for expanded U.S. natural gas exports–though I doubt that its leaders will be offering their support in anything above a whisper. The renewable energy industry would benefit from higher natural gas prices.
A weekly update, including:
-Oil and the global economy
-The Middle East
-Quotes of the week
The US Department of Energy (DOE) released a report on 5 December, 2012 which examined the question of economic benefit to the US of natural gas exportation. Last December, Deloitte issued an independent report regarding exportation which had hauntingly similar conclusions. Interestingly enough, many of the conclusions in the Deloitte report are now known to be erroneous only one year later.