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United States Natural Gas ETF Message Board

  • natgasinv natgasinv Jun 26, 2014 6:56 AM Flag

    House passes bill to speed up NG Exports

    WASHINGTON — The House voted Wednesday to force the Obama administration to accelerate its scrutiny of dozens of proposed natural gas export projects, responding to energy companies’ clamor to sell the fossil fuel to Japan, Thailand and other countries.

    The measure, which passed 266-150, represents a bid to hasten federal regulatory reviews of the multibillion-dollar projects needed to transform natural gas into a liquid that can be loaded into tankers and shipped overseas. Although the Energy Department has issued seven licenses to broadly export liquefied natural gas to countries that do not have free-trade agreements with the United States, some two dozen more proposals are pending.

    The legislation would impose a 30-day deadline for the Energy Department to rule on those applications, with the clock starting after the bill is enacted or the required environmental reviews of the construction plans are finished.

    Sentiment: Strong Buy

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    • it still takes years to build the exporting facilities, cheniere's facilities will not start exports until 2016 and they had a head start because they are repurposing an import facility they started building a few years ago.

    • The public outcry will be fierce once they discover that 'big business' is trying to make a buck on their natural resources. This issue will have more public resistance than anyone can imagine. After years of being held hostage over OPEC-imposed gasoline prices, they (and I) have had enough. I say keep our energy resources for ourselves and stop the ridiculous export rhetoric. The one sure thing that can assure America's continued greatness is our own newfound energy.

    • There is still a Senate...the job recovery in the industrial portion of the US is largely hinged on lower energy (natgas) price. It will be interesting to see how this battle is fought in an election year.

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