The United States energy sector is experiencing a historic moment of growth, according to U.S. Secretary of Energy Rick Perry, and “nowhere is this stunning turnaround more dramatic than with natural gas.”
Secretary Perry visited the first East Coast natural gas export terminal at Cove Point in Maryland, promoting liquefied natural gas (LNG) exports a day after a new agreement to boost U.S. LNG exports to Europe was announced.
Cove Point, which Perry lauded a ‘milestone’, is an example of why infrastructure is key to further realizing the economic, environmental and national security benefits of America’s abundant energy resources.
In a weekend CNBC column, Perry expanded on the “tremendous boost to both our domestic economy and our energy security” that’s resulted from the domestic shale revolution. Here are the highlights:
Thanks to significant innovations in hydraulic fracturing and horizontal drilling, the United States is the number-one natural gas producer in the world.
A few short years ago, U.S. natural gas producers were spending billions to construct facilities to import liquefied natural gas (LNG). Today, they are converting investments to export operations and last year, for the first time since Dwight Eisenhower was president, America became a net natural gas exporter…
The benefits of our shale revolution have given a tremendous boost to both our domestic economy and our energy security. To seize this momentum, we must continue to expand our extraction capabilities and domestic transmission infrastructure. Doing so will allow the United States to better distribute product from the fields of Appalachia’s Marcellus and Utica Shale Basins, and meet our growing energy needs at home.
Natural gas production has created over 150,000 jobs across the nation. And as domestic production continues to increase, and natural gas prices remain low, our economy reaps the benefits. …
Indeed, partly due to our natural gas boom, the United States has led the world in cutting energy-related carbon dioxide emissions, reducing them by nearly 14 percent – or 700 million metric tons – from 2005 to 2017. Increasing our use of clean, affordable natural gas is helping us eliminate the false choice between growing our economy and protecting our environment.
In case you missed it, here’s a quick recap of the expanding market for U.S. liquefied natural gas:
At Cove Point, Energy Sec. Perry hails shale gas’ role in U.S. export growth
The plant’s yearly capacity of 5.25 million tons of LNG has already been locked in through contracts with clients in Asia for 20 years… Perry called the official launch of the export terminal the “last milestone in astoundingly rapid journey” that shifted the country from importing natural gas to exporting LNG in just 10 years. (7/26/18)
America is the global energy leader: Energy Secretary Rick Perry
“‘These are amazing times, but the message is clear,’ [Perry] told FOX Business’ Maria Bartiromo during an exclusive interview on “Mornings with Maria. ‘The [U.S.] is blessed because of innovation, hydraulic fracturing and our ability to directionally drill, to have access to this shale gas… It is putting America in a place that we haven’t been in 60 years.’” (7/26/18)
Rick Perry cheers first natural gas export terminal on East Coast
Energy exports are key to Trump’s “energy dominance” agenda, and Perry said the president fully supports the new terminal. … “Clearly, the story of America’s path to energy security shines brightly before the world,” Perry added, calling the opening of Cove Point a “remarkable new chapter in America’s history.” (7/26/18)
Perry says EU deal sets stage for more U.S. LNG exports
“Energy Secretary Rick Perry said Thursday that the European Union was going to become “a major purchaser of U.S. LNG. … ‘It is a new day and I think a very bright day,’ Perry said. ‘Our allies, they can count on, no strings attached that U.S. energy will keep flowing their way.’” (7/26/18)