Industrial Group Says Domestic Gas Prices Up 36% Since First LNG Export Terminal Approved
Posted on Dec 3, 2013 in Federal Regulation, LNG Exports, Markets and Competition | Comments Off on Industrial Group Says Domestic Gas Prices Up 36% Since First LNG Export Terminal Approved
The Industrial Energy Consumers of America (IECA) issued a press release stating that while the cause of the price rise is undetermined, U.S. Energy Information Administration statistics show that domestic natural gas prices have risen 35.6% since August 2012, when the first LNG export terminal was approved. IECA states that U.S. Department of Energy (DOE) analyses of LNG export proposals are based on economic assumptions that are outdated and DOE is failing in its legal responsibility to make a proper public interest determination in approving LNG export applications.