Today, the final day of the Department of Energy (DOE) comment period for its macroeconomic study, the Center for Liquefied Natural Gas (CLNG) hosted representatives from small business, labor, Dominion and GE, at a Capitol Hill briefing to discuss the benefits of LNG exports across all industries.
Bill Cooper, president of CLNG, said: “Our group of speakers today was reflective of the multitude of industries and communities that will benefit from this opportunity to export some of America’s abundant natural gas resources in global markets.”
Adam Diaz, a local business owner in Susquehanna County, PA commented: “In the last 3 years since the natural gas industry came to Susquehanna County, Pennsylvania, my company has been able to grow from 30 employees to 250, while our revenue has increased from less than $2 million annually to almost $50 million today. This growth has led to an increased tax contribution of almost $3.5 million in federal, state and local taxes. Recently though, drilling rig counts have been falling in my area. LNG exports will increase demand, bring back the rigs and allow businesses like mine to grow and add much needed jobs to local economies to keep them strong.”
Brad Karbowsky of The United Association of Plumbers, Fitters and HVAC Techs added: “LNG terminals are multi-billion dollar investments that require a highly trained and skilled workforce to build. LNG facility construction will employ thousands of my brothers and sisters in the labor movement for many years to come as well as provide opportunities for new apprentices. The billions of dollars in wages generated by these well-paying jobs will be multiplied throughout communities across the country in the form of investment and taxes, which will in turn be used to support schools, fire stations and other essential public services. This new source of shared prosperity will provide a foundation for future growth.”
Diane Leopold, senior vice president at Dominion Transmission remarked: “Study after study has shown that both the nation’s security and economy will benefit broadly from allowing some of our abundant and growing natural gas supplies to be delivered to international markets. The DOE study is hardly singing solo here, but merely adding another voice to a booming chorus.”
Michael Farina, Global Strategy and Analytics Leader, Fuels Market Intelligence at GE stated: “GE supports free markets and free trade. As a global company, we have witnessed firsthand the economic vitality generated when local workers, local industry and local resources are unleashed to compete in world markets.”
In December, DOE released a third-party macroeconomic report it commissioned detailing the net benefits LNG exports would bring to the U.S. economy. Specifically, the report stated that; “the net result is an increase in U.S. households’ real income and welfare,” (DOE report, p. 6) and that “all export scenarios are welfare-improving for U.S. consumers…” (DOE report, p. 55).
The initial comment period on the report concludes today. Reply comments will be accepted for 30 days beginning on January 25.