<
https://reneweconomy.com.au/us-doe-report-busts-lng-myth-says-fossil-gas-exports-are-bad-for-consumers-and-the-planet/>
"A US-government commissioned report has delivered a striking take-down of the
fossil gas export industry – concluding that ‘unfettered’ growth in gas exports
leaves consumers facing higher energy costs, contributes to surging greenhouse
gas emissions, and potentially exacerbates geopolitical tensions.
The report has major relevance for Australia – raising the same concerns cited
by many Australian energy analysts and climate advocates – that surging gas
exports have merely worked to enrich fossil fuel companies while leaving local
communities, consumers and the climate to carry the costs.
The new report – published by the US Department of Energy (DoE) – sets out how
growth in US liquified natural gas (LNG) exports impacts a range of public
interest considerations, challenging fossil fuel industry arguments about
whether there is any net benefit in issuing new approvals for increased LNG
exports.
As outlined by US Energy Secretary Jennifer Granholm, the report reaches five
key conclusions when assessing the ‘public interest’ in issuing new approvals
for LNG exports; these are:
– Previously issued approvals for LNG exports are already more than sufficient
to meet the forecast demand (i.e. the global market demand for US gas is
already saturated).
– Further increasing the volume of US LNG exports will work to enrich fossil
fuel companies but at the expense of higher gas prices for domestic consumers.
The DoE describes a “triple-cost increase” for American homes and businesses,
with increased gas exports leading to higher costs for domestic gas supplies,
higher electricity tariffs and increased costs of locally manufactured goods.
– Increased gas production will further exacerbate the impact of pollution on
communities located near gas extraction and processing facilities.
– Increased gas exports mean higher global greenhouse gas emissions, with the
DoE determining that gas exports lead to higher overall emissions as they are
more likely to displace global investment in renewable energy rather than
replace coal.
– The global market for exported gas has changed dramatically and now presents
geopolitical challenges. Demand for gas in Europe, South Korea and Japan is
declining, and China is emerging as the major buyer of LNG."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics