The chemical manufacturing industry has benefited greatly from the availability of cheaper feedstocks amid the shale gas revolution. Some are concerned, however, that the good times will go away if the U.S. begins to export large volumes of LNG, which may drive prices upward on increased global demand (though some experts believe the impact won't be as significant as some fear). A report by FuelFix’s Jennifer Dlouhy on Thursday highlighted the gradual shift in Washington from opposition to support of legislation that allows more domestic gas to be sold overseas. Yesterday the House voted down a proposal by Oregon Democrat Peter DeFazio that would bar exports of natural gas produced on public lands by an even wider margin than a handful of recent related bills. The arguments within Congress for and against expanded LNG exports mirror one of the great debates taking place within the energy industry - should we take advantage of the economic opportunities presented by a potentially vast global market for our natural gas or keep exports at a reasonable minimum in the name of keeping manufacturing costs down? Whichever way the tide ultimately turns, the House of Representatives is beginning to come down on the side of the former.
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