Higher Prices

 

The LNG rush is not aimed at energy security or energy independence for the United States, or boosting the local economy; the point is for companies to make money on exports of natural gas. According to the government’s Energy Information Agency, exporting LNG will drive domestic gas prices up.  Several large U.S. manufacturers including Dow and Alcoa are strongly opposed to exporting natural gas as it will drive up their production costs, thereby increasing the cost of the products that they make. That will make their products more expensive and less competitive. Higher natural gas prices will also mean higher electricity rates, which in addition to driving up consumers’ electricity bills will increase the prices of goods and services that Americans rely on.