American Natural Gas Going Overseas?

The Philadelphia Inquirer is reporting that the U.S. shale gas bonanza could lead to lower transportation costs, cheaper electricity, and the revitalization of the country’s manufacturing sector.

But as Andrew Maykuth of The Inquirer points out, this abundance has brought other possibilities into play, including shipping this abundant American fuel to markets overseas.

Five applications to build liquefied natural gas (LNG) terminals have been received by the Department of Energy; one has already been approved.

Key decision makers in Washington are alarmed at the possible effects this could have on developing America’s energy security.

“How can we ensure that our export policy is consistent with our continued ability to reap the benefits of our newfound abundance of natural gas?” says Senator Jeff Bingaman, chairman of the Senate Energy and Natural Resources Committee.

Read the entire story HERE.