How Putin is a 'lobbyist' for US nat gas exports
As U.S. energy production surges—along with threats of conflict in Europe—industry heavyweights are insisting that now is the time for the United States to export more natural gas.
According to the Energy Information Administration (EIA), the U.S. is sitting on more than 2 trillion cubic feet of natural gas reserves—or more than a 92-year supply—creating an opportunity for exports. Opponents insist, however, that environmental concerns and economic risks do not support the export argument.
The United States already exports some of its natural gas, but only a small portion compared to the staggering amount of nat gas it consumes. In January, the U.S. exported 134 billion cubic feet of nat gas but consumed 3.2 trillion cubic feet, according to the EIA's most recent Natural Gas Monthly Report.
The debate on exports has been fast-tracked by recent tensions between Russia and Ukraine. Russia under President Vladimir Putin has been able to use energy as a powerful bargaining chip, because Ukraine relies heavily on it for natural gas. Western Europe also depends on Russian imports, and nations like Germany are critical to U.S. efforts to enforce economic sanctions against Moscow.
http://www.cnbc.com/id/101564599
