Sunday, September 11, 2022

It's a (PRICEY) Gas, Man!

Barron's raises a very good question towards the end.....

...The growth of global demand for U.S. LNG can be tied to many market forces, including the shortfalls in Europe due to Russia’s manipulation of European Union gas markets. Sustained high demand in wealthy Asian nations has contributed to export growth as well. And so has the U.S. gas industry’s dogged determination to ship its wares to the highest bidder, foreign or domestic.

Russia’s role has been particularly critical in the rise of global LNG demand. As Russia choked off gas shipments to Europe, EU buyers have turned to global LNG markets to make up the shortfall. Global LNG prices rose in response, and U.S. LNG companies ramped up output, shipping more cargoes to Europe. But Russia responded by further clamping down on gas supplies to the EU—a vicious circle that has hurt Europe’s economy even more severely than it has harmed America’s.

There’s little sign that U.S. gas prices will ease in the coming years. Freeport’s demand will be back online soon enough, and there are three other massive LNG export projects under construction, with more than a dozen of others waiting for financing. […] Curiously, federal regulators have consistently found that the gas export projects are in the public interest—meaning they were in the economic interest of LNG companies and gas drillers. But now, exports are creating sky-high costs for U.S. consumers, and drillers are reluctant to boost gas output lest prices fall back to earth. So, it’s high time to consider whether soaring U.S. LNG exports are actually in America’s interest—or if, instead, runaway LNG exports are fueling energy inflation and undermining the nation’s economic competitiveness
--quoted at Last Refuge

The "FREE TRADE" crowd--which is (to no one's surprise) a bunch of Globalists--will obviously take the "NO!!" side on export controls which benefit ordinary US citizens.

Will the Bai-Den regime take the "YES!!" side?  That's a good question.  

Doing so will incur the wrath of the Green Bloc, which is perfectly happy to reduce the population and 'save the Earth' by assisting 100 million or so in freezing to death here and in Europe.  That's the bloc financed by Bill Gates and the Population Control gang.  Most Democrats are part of that group and are Eugenecists, to boot, so Bai-Den is not likely to make any changes.

Other US citizens may resent a Government which froze their grannies.  They are probably Trump supporters, Deplorables, Haterzzzz, and Raaaaaaaaaaacis'.  

And they have guns.

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