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Letter to the Editor: LNG exports will hinder US manufacturing recovery

Keywords: Tags  Nucor, Daniel DiMicco, natural gas, LNG, exports, letter to the editor


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 isn’t the “clear choice” (amm.com, May 21)—it’s 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 today’s 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 America’s Energy Advantage, joining other manufacturers in advocating for a balanced approach to LNG exports—one 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
Nucor Corp.

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