“More study needed” is the lame-O excuse.
The U.S. Energy Department will not make a decision on future liquefied natural gas exports until it has weighed the potential consequences of sending U.S. gas abroad, Energy Secretary Steven Chu said on Thursday.
Chu said there was concern that exporting the nation’s surplus natural gas could lead to higher prices, but that had to be balanced against the economic benefits of increasing the U.S. exports.
“We’re not going to do anything until we make a determination what the impact would be,” Chu told lawmakers at Senate energy committee hearing on the Obama administration’s budget request…
Gas drillers have warned that constraining exports would limit production by making development unprofitable. Already, some companies have begun to cut back on production because of the current gas glut.