January 11, 2013
Recently, a new effort was launched by Dow Chemical, ALCOA and others, called America’s Energy Advantage, to minimize or even stop the export of liquid natural gas (LNG) from the United States. The National Black Chamber of Commerce voiced its opposition to this effort, calling the new effort against LNG misguided and potentially damaging to the greater American economy.
“These companies voicing the loudest criticism of LNG exports are doing so to suppress the cost of natural gas for their own, immediate, economic benefit – without regard for the rest of the American economy,” said Harry C. Alford president and CEO of the National Black Chamber of Commerce.
Recent studies by Deloitte and the Department of Energy have confirmed positive, long-term economic benefits to broad swaths of the American economy from allowing LNG exports. The NBCC feels that this is an opportunity that will benefit all.
“The projected long term economic benefits of LNG exports are staggering and would benefit the entire community. It isn’t fair for a few companies to artificially keep the cost of natural gas low for themselves, when the long term advantages of opening the natural gas market would benefit everyone.”