President’s Executive Orders Show Support for Infrastructure Investment Expediting Keystone XL and Dakota Access pipeline projects is right decision for U.S. economy WASHINGTON, DC – The American Council for Capital Formation today released the following statement from ACCF Vice President of Communications Robert Dillon on President Donald Trumps’ executive orders expediting the Dakota Access Pipeline and Keystone XL Pipeline projects: “In signing the Keystone XL and Dakota Access executive orders, President Trump is following through on his campaign promise to reverse the previous administration’s approach of abusing the regulatory process to pursue a political agenda. Unfortunately, that agenda came at // Read More
A recently published report from French think tank, Institut Francais des Relations Internationales (Ifri), reemphasizes the importance of American liquefied natural gas (LNG) in today’s competitive energy market calling it a game changer. Specifically, the author, Sylvie Cornot-Gandolphe, argues that even though low prices have caused projects to slow down, the flexibility of U.S. LNG still provides an advantage over foreign competitors.
Throughout the study, Cornot-Gandolphe focuses on how U.S. LNG exports would benefit Europe saying it “provides Europe with a greater security of supply” especially in the midst of the Russian-Ukrainian crisis. And with the continued growth of U.S. LNG, the security of European gas supply also increases.
As Cornot-Gandolphe stated:
“[U.S. LNG] has considerable implications for the security of European gas supply and its competitiveness, whether the LNG comes onto the European market or not.”
However, Cornot-Gandolphe does mention that if Europe is to truly take advantage of the incoming LNG, then Europe should begin constructing the “missing infrastructure” in order to ensure that each country has access to the clean fossil fuel.
Cornot-Gandolphe also points out that U.S. LNG isn’t just good for Europe. In fact, until recently, U.S. LNG exports have been focused on Latin American, Middle Eastern, and Indian markets, which have provided the best netback to U.S. exporters. Now, with the expansion of the Panama Canal, U.S. LNG is reaching new emerging markets in the Far East.
U.S. LNG is revolutionizing the world energy market, and even though exports are emerging into a landscape very different from that envisioned six years ago, U.S. LNG will continue to influence international trade for decades to come. But without the help from the United States Congress in the passing of the Energy Modernization Bill, U.S. LNG may not reach its full potential.