To the Editor:
If we want to strengthen the economy and create jobs
through our vast supply of natural gas, then allowing unlimited
natural gas exports isnt the clear choice (
amm.com, May 21
)its the wrong choice.
The best way to achieve the goals of substantial job creation,
increased exports and a reduced trade deficit is to use
low-cost natural gas to grow the U.S. manufacturing sector.
That will create far more value for the American economy than
exporting large quantities of our natural gas. A recent study
by Charles River Associates found that increased manufacturing
from cheap natural gas creates twice the direct value for our
economy and eight times as many jobs as liquefied natural gas
(LNG) exports. The same study found that high volumes of LNG
exports will double U.S. natural gas prices from todays
levels, which would be the death knell of the manufacturing
renaissance that is beginning to occur in our country.
Advocates of unlimited exports do so in the name of free trade.
That argument ignores the reality that global energy markets
are not free markets, but instead are mostly controlled and
abused by either governments, like Russia, or cartels, like
OPEC (Organization of Petroleum Exporting Countries), that have
manipulated the price of energy to their benefit for decades.
Nucor is a member of Americas Energy Advantage, joining
other manufacturers in advocating for a balanced approach to
LNG exportsone that recognizes the tremendous opportunity
we have to rebuild our economy and create jobs by using U.S.
natural gas here at home.
DANIEL R. DIMICCO