US senatorsí group against export of natural gas to India and China

May 11 2014, 01:43 IST
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The senators urged Obama to consider the impacts on US manufacturing and families that rely on natural gas. The senators urged Obama to consider the impacts on US manufacturing and families that rely on natural gas.
SummaryA bi-partisan group of 22 US senators have expressed reservation on the export of natural gas...

A bi-partisan group of 22 US senators have expressed reservation on the export of natural gas to Asian countries such as India and China, arguing that such a move by the Obama administration would result in an increase in cost for consumers and businesses at home. "Natural gas prices in Asia are currently three to four times higher than those in US. Integration of US and Asian natural gas markets through US exports could lead to further increases in prices for American consumers and businesses, which may fundamentally reverse many of the economic benefits that have led to the current surge in manufacturing job growth in the US," the senators said in a letter to Obama.

They said the "large-scale exports of natural gas to Asia could also jeopardize America's goal of achieving energy independence, a goal made more achievable by the recent increase in domestic gas production." The senators urged Obama to consider the impacts on US manufacturing and families that rely on natural gas.

In the letter released to the press on Friday, they pointed to the hundreds of thousands of American manufacturing jobs created in the last few years, in part because of low natural gas prices.

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