The dumbest thing I've ever heard...
With a natural gas storage supply at its highest level, the NG price at one of its lowest levels, and oilfield companies laying off, why on earth would this country be imprting huge quantities of LNG. As much as 5 trillion cubic f/y. And most of it is free.
Is there no import fees to regulate this? A conservative analysis has put this country at having enough NG to sustain it for up to 100 yrs or more. Who is the peron/s to contact to question the sense in this? Is it a good idea to swamp the market?
If I'm growing enough corn to sustain my family and a little extra, why would I go buy corn at giant Wal-Mart. I guess to show them I'm a irresponsible PATRON..
I guess I'm missing something here...
Is there no import fees to regulate this? A conservative analysis has put this country at having enough NG to sustain it for up to 100 yrs or more. Who is the peron/s to contact to question the sense in this? Is it a good idea to swamp the market?
If I'm growing enough corn to sustain my family and a little extra, why would I go buy corn at giant Wal-Mart. I guess to show them I'm a irresponsible PATRON..
I guess I'm missing something here...
Tags: lng
Views: 121
Replies to This Discussion
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Permalink Reply by adubu on -
about 10 years ago the USA suppy of NG could not keep up with demand. NG was abundant in asia and middle east. The USA invested Billions in LNG terminal to receive the LNG. Then came Shale Gas and our supply is now abundant in the USA. The investors wish they had not build the LNG terminals. Now the investors have to use the terminals or lose Billions. middle east can transport LNG and sell in in the USA as low as $2.25 and still make profit the terminals have I beleive flat fee to handle the NG so HH price not issue. When Europe, UK, and Japan need gas it will be transported there due to premium in price several dollars above HH prices. Go to the Texas RRC site and put in search "Natural Gas Trends" read thru weekly reports a lot of this is covered periodically in the articles each week. Give complete storage data and projection of future needs, prices,etc.
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Permalink Reply by Mark on
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Good info, thanks. Didn't know about this. Looks like we watered our crops with gas on this one.
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Permalink Reply by Les Bamburg on -
Abudu, actually most of the investment in new terminal capacity was underwritten by foreign companies such as RasGas, Shell, BP, Total, ENI, BG, Statoil, etc.
Use of LNG terminal capacity is driven almost exclusively by landed natural gas price.
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Permalink Reply by Lrb2brnot2b on
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I try not to buy anything at "CHINA" , I mean at Wal-Mart........I will not support the outsource of jobs and the insource of contaminated food not to mention the selling-out of America to foreigners. Only idiots do this and there are lots of them out there without the backbone to stand up and say "enough is enough" I fear it is too late to save the U.S. and too few people left willing to try. Our elected officials sure are't trying. They continue to be bought by big business and line the pockets of greedy CEO"s even while there is a public out-cry about this at the same time. I say to all, "If they don't get the message, send them home." They are supposed to work for the voters, and we let them get away with it.
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Permalink Reply by cocodrie man on
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Adubu says it correctly. Big money invested billions years ago to import natural gas and they are not going to lose it now. When he says the USA invested billions he does not refer to folks like me.
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Permalink Reply by Grillin' - MmmMmm on
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Yep. Private industry invested that money and now they need to get it paying back the investments. There is "no one" to talk to unless you want to pass protectionist laws against the import of nat gas. Unfortunately, back during the early days of the Great Depression, the country was starting to come out of the doldrums until someone thought it would be a good idea to pass protectionist legislation and banned imports. On the surface, it sounded good as it protected U.S. jobs but in the end, it drove the country further into economic morass and led to many more years of horrible economic outcomes. So, we need to be careful with what we ban from import into the U.S. It can turn around on you in a hurry!
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Permalink Reply by adubu on
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Mmmarkkk---agree free markets should never be restricted. Maybe when prices improve the USA oil & gas companies will began exporting LNG since we have abundant
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Not saying to ban it, but to add a fair tariff. This would help keep those countries that don't like us very much from swamping the market.
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Permalink Reply by Grillin' - MmmMmm on
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tariffs are protectionist legislation.
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Permalink Reply by intrepid on
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cocodrie man, one thing you may be sure of............you'll wind up paying for it one way or the other.
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Permalink Reply by Lrb2brnot2b on
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Yep! you make money and the politicans will take your money, unless you are a crook or a politican yourself.
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Permalink Reply by Les Bamburg on
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Mark, your LNG import volume is way high. Current LNG imports are closer to the 400 - 700 Bcf per year range. Also remember the US imports ~ 2.4 Tcf per year from Canada.
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