Last month I said I thought it would be premature for the Department of Energy (DOE) to rush into authorizing massive exports of natural gas, notwithstanding the amazing recent boom in American shale gas production. My worry was that precipitous large-scale exports could tighten U.S. supplies and raise prices, with negative ramifications for domestic industrial concerns that depend on cheap gas.
My thought: Wouldn’t it be preferable to re-shore good-paying manufacturing jobs rather than serve as a resource colony for the rest of the world? Seems we should be prudent here!
Now, Rep. Ed Markey has weighed in with a letter to Energy Secretary Steven Chu, and, to his credit, the ranking member of the House Natural Resources Committee has expanded on these concerns, added some new ones, and done it with an admirable eye to the long-term economic and industrial interests of the country.Read More