June 3rd, 2022

• An H.Res from Rep. Troy Balderson (R-OH) was introduced to promote American natural gas as a green energy source. Press Release

• Energy prices are expected to rise through the summer. Potentially as much as 233% over last year. OilPrice.com,  Politico

• U.S. LNG exporters are setting records in bringing clean American energy to the global market. SeekingAlpha.com

• Last week, Venture Global LNG, a major U.S. exporter, closed the world’s largest project financing deal in 2022 for their Plaquemines project. Press Release

Americans have enjoyed the cleanest air in centuries and America is the world leader in clean air quality thanks to the increasing usage of American natural gas. Ohio is leading the nation in this and Representative Troy Balderson (R-OH) is taking Ohio’s success to the national level.

This week Rep. Balderson released a resolution to recognize that natural gas sourced from America should be considered a green energy source. “Unleashing America’s abundant natural gas is the solution to affordable energy, a cleaner environment, and lessening our reliance on bad actors.” said Rep. Balderson in his press release.

In order to meet emissions targets, the Biden administration must start looking at the American natural gas industry as an asset and ally not the enemy.

Consider what happened when the Administration took an antagonistic approach. After a year of policy attacks on American natural gas, coal use increased. Families, utility providers, and towns across America didn’t volunteer to pay to import solar panels from China or give up valuable farm land for turbines, they turned to the least expensive alternative available (which should have been clean American natural gas).

This is why America needs common sense policies that promote our own domestic resources.

Bottom line: It’s green. It’s clean. And it’s abundant right under our feet. That’s right, we’re talking about American Natural Gas!

Adding to the pain American families are experiencing, energy prices are expected to continue rising through the summer.

America’s dwindling domestic energy stockpile is experiencing higher demand than replenishment and demand is expected to rise as we continue through what is projected to be another record setting summer.

In the U.S. “The Henry Hub gas benchmark hit the highest in 14 years on Friday.” And “the Federal Energy Regulatory Commission predicts electricity prices could rise by as much as 233 percent over last summer’s power prices.”

With no policy solutions from the administrations on the horizon American families and businesses might be facing rolling blackouts through the summer.

Bottom line: America and the world desperately needs more oil and gas for any sort of price relief. Energy prices will continue to climb until policy is in place to boost production.

U.S. LNG exporters are setting records this year as they lead the world in providing clean American energy sources to the global market.

Overall, domestic “producers sent nearly two-thirds of total cargoes to Europe as customers sought more gas in anticipation of reductions in Russian supplies.”

A major boost to U.S. exports comes from the Venture Global Calcasieu Pass terminal in Louisiana which started exporting earlier this year.

Additional good news for the global economy is that Venture Global LNG “closed the largest project financing transaction in the world closed in 2022.” The company intends to replicate the record setting speed and execution success from the Calcasieu Pass at their Plaquemines location.

And thus more clean American energy is coming to the global market.

Bottom Line: In a glimmer of positive news, American LNG producers are setting records and new export terminals are being approved. This means more green energy is on the way!

Last week, we highlighted projections that the national average for a gallon of gasoline could hit $6 this summer. This week, we’re quickly moving towards that becoming a dystopian reality.

In just the past week, the national average jumped up another 16 cents from $4.60 to $4.76. Gas prices have now hit record highs in every single state in the country, with no reprieve in sight.

They say history repeats itself, and it certainly does in the Biden administration. Reports continue to emerge that the administration is turning to foreign adversarieslike Venezuela, Iran, and OPEC+ to ask them to increase supply. At the same time, he hasn’t undone any of his harmful policy towards our producers right here at home.

DOE Launches The “Interconnection Innovation eXchange”: On Tuesday, June 7, the U.S. Department of Energy will hold a webinar launching the Interconnection Innovation eXchange (i2X), a program “focused on developing innovative solutions to enable the faster, simpler, and fairer interconnection of solar energy, wind energy, and energy storage to the electric grid.”

Hearing On Methane Emissions: On Wednesday, June 8, the House Science, Space, and Technology Committee will hold a hearing on “Detecting and Quantifying Methane Emissions from the Oil and Gas Sector.”

Hearing On “Ocean Climate Action”: On Thursday, June 9, the House Select Committee on the Climate Crisis will hold a hearing called “Turning the Tide for Ocean Climate Action: Unleashing the Climate Benefits of Our Blue Planet.”

COMMON SENSE QUOTE OF THE WEEK

“We have centuries of natural gas right here under our feet… to provide low energy costs for our constituents, for our families, for our businesses. And we’re going to continue to advocate that.”

– Rep. Troy Balderson in his “Natural Gas is Green” press conference.