U.S. Rep. David McKinley (R-W.V.) believes expanding natural gas fracturing and drilling, and exporting the product across the globe, would be an economic “game changer” for America.
The hurdle to getting there, McKinley wrote in an opinion piece in the Charleston (West Virginia) Daily Mail, is the Obama administration being willing to process the “20-plus pending applications to permit shipping natural gas overseas.”
“Improvements in hydraulic fracturing and advances in horizontal drilling have made the United States the leading producer of natural gas in the world and are finally providing a pathway to energy independence,” McKinley wrote. “Seeking a competitive source of gas and a desire to avoid unpredictable dependency on Russia and Middle Eastern countries, consumers around the world are knocking on America’s door.”
McKinley sees approval of exporting as the beginning of a domino effect on the nation’s economy – particularly his state of West Virginia, where a large amount of shale gas is produced.
He notes that to export the product, it first must be turned to liquefied natural gas (LNG) and that each new LNG terminal would “involve billions of dollars and add thousands of construction jobs to the local economy.”
Further, reports indicate exporting LNG would require 90 new tankers, giving a boost to America’s shipbuilding industry.
McKinley believes that many European countries would welcome the opportunity to not depend on Russia or the Middle East to provide them with gas.
“Allowing America to export LNG could be a means to thwart Russia’s aggressiveness,” McKinley wrote. “In the face of competition from America, perhaps (Russian President Vladimir) Putin would stop his aggressive posture and return to the bargaining table. Middle Eastern countries are unquestionably paying attention to whether President Obama will allow LNG exports and reduce their stranglehold on the global energy market. How President Obama deals with LNG will have a profound effect on charting an energy policy for America’s future.”