Natural gas exports increase domestic costs

 If we have an abundance of Louisiana natural gas and increasingly more extraction of Louisiana natural gas, then why are domestic natural gas prices increasing?

From Forbes Reporting: 

The recent pause on pending permits to export LNG to non-FTA countries could save US consumers up to $18 Billion in new annual energy costs. The more LNG facilities and the more LNG export terminals built along the Gulf Coast, the more upward pressure on domestic prices, because the oil and gas companies sell to the highest bidder, "regardless of what that costs U.S. consumers." That certainly is not in the public's interest, and not in the interest of the U.S. economy.

""And while increased energy security for European allies in the face of Russian aggression has been used to justify building these LNG export terminals, it’s a red herring. New LNG export terminals take years to come online, doing nothing for near-term needs but locking in long-term climate pollution and consumer costs.""

U.S. Gas Prices Could Spike 14% Without Biden’s Pause On New LNG Export Terminals

Energy Innovation: Policy and Technology

Contributor We are a nonpartisan climate and clean energy policy think tank.

Silvio Marcacci

Contributor Senior Director, Communications