Press Release: President’s Executive Orders Show Support for Infrastructure Investment

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 the expense of the U.S. economy and American jobs. Today’s action by President Trump not only respects the rule of law, it also signals that America is once again open for business. Investment, growth and job creation should be the cornerstone of the President’s agenda and today’s executive orders reflect that commitment. “Over the past several years, the United States has reemerged as the world’s leading energy producer. Unfortunately, our infrastructure has not kept pace and additional economic growth has been held back by a lack of pipelines and other energy infrastructure that have become the targets of special interest groups. Basic infrastructure projects like Keystone XL and Dakota Access pipelines – and the economic activity and jobs that accompany them – are long overdue. “The American Council for Capital Formation is pleased that the new administration has revisited these two important projects and taken a pro-growth approach to our nation’s energy sector.” The American Council for Capital Formation Center for Policy Research is a nonprofit, nonpartisan economic policy organization dedicated to the advocacy of pro-growth tax, energy, environmental, regulatory, trade and economic policies that encourage saving and investment....

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FERC Approves Golden Pass Project With Huge Export Potential

In a positive step for U.S. energy exports, the Federal Regulatory Energy Commission (FERC) recently approved a new project that will help bring clean-burning liquefied natural gas (LNG) to new markets.  The long-awaited Golden Pass export project, based in Sabine Pass, Texas, not only will spur economic growth in the surrounding communities, but will supply a source of stable and secure energy to demanding markets. Energy projects like Golden Pass provide opportunities for local communities and businesses to succeed and grow. An increase in direct and indirect jobs through construction, maintenance, and operations of the project are just one example of the many added benefits projects provide. Additionally, our nation’s economy will continue to grow as new markets become available for American products allowing us to stay competitive in this challenging global economy. Increased American exports from the Golden Pass project will also open doors for greater competition in places like Europe, where many Balkan nations, Poland, and Ukraine are almost entirely reliant on Russian sources of energy.  As the number one producer of LNG, the U.S. has the potential to make significant inroads into areas where Russian companies have monopolized the industry and in most cases, caused instability to those who depend on Russian gas to heat their homes and businesses in the winter.  American LNG is not only beneficial for the energy security of our allies, but it provides a boon to the economy. The approval of this project is a big step towards furthering America’s role as an energy leader throughout the world, but the approval process of much-needed export projects is unfortunately time consuming and draw out – costing valuable time and money. Approval for projects like the Golden Pass can be a very slow, often taking an astounding two years to complete.  Given the high demand for clean-burning LNG, the Department of Energy needs to cut the bureaucratic tap and streamline its processes.  With an improved, more efficient approval process, comes more jobs for hardworking Americans and an increase in exports that help our allies rely less on Russian producers that hold them hostage....

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Foreign Allies Urge Congress for LNG Exports in Letter

In a letter to Congress, seven ambassadors from Central and Eastern Europe (CEE) to the United States urged lawmakers to expedite the project approval process for liquefied natural gas (LNG) export facilities so that their countries can begin to receive the long-anticipated energy source before the winter months. The letter, which was signed by ambassadors from the Czech Republic, Hungary, Poland, Slovakia, Estonia, Latvia and Lithuania, specifically pointed to the national security benefits of U.S. LNG exports referencing Europe’s current dependency on Russia. As the letter says: “These exports result in greater liquidity to the global natural gas market and have the potential to provide diversity of sources, suppliers and routes thus to a greater energy security in our part of Europe, a region for long dominated by an external state-controlled gas supplier, ready to use energy as a political weapon.” With the ability to transfer LNG from developed terminals in Lithuania and Poland, these countries in the CEE have been hopeful for Congress’ action to rectify the bureaucratic red tape that constricts the current permitting process. But without lawmakers help to establish new deadlines and processes for these applications, Europe may continue to remain in the grasp of Russia for at least another winter. At the end of the summer, Congress established an energy conference committee to review energy legislation passed in the House and Senate. Thankfully, language for an expedited LNG application process was included, but without action from Capitol Hill this much-needed Energy Modernization Act will languish during lame duck. LNG exports would not only benefit our foreign allies, but bring economic growth and job security to communities throughout the United States. It would underline America’s spot as a global energy leader with an all-of-the-above energy strategy that is competitive and forward-thinking. Congress must act during lame duck to ensure that the hard work and dedication put into developing a modern energy policy does not languish at the end of the...

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