WashPost: ‘U.S. gas exports make sense’

The Washington Post editorial page again busk the green line.

About exporting natural gas, the Post editorializes:

IN AN OTHERWISE gloomy economic time for the United States, the boom in natural-gas production has been a dazzling bright spot. Thanks in large part to expanded production of previously inaccessible shale gas, the United States has passed Russia as the world’s largest gas producer, with an output of more than 23 trillion cubic feet in 2011. As the price of natural gas has plummeted, consumers have benefited from lower electricity rates, the cost of manufacturing in the United States has gone down, and thousands of jobs have been created…

But the benefits of expanded exports must be weighed against these predicted costs — which are neither inevitable nor dramatic. Among them would be a potentially significant reduction in the U.S. trade deficit, which would mean less need for the United States to borrow from its Asian trading partners. Foreign demand gives U.S. companies an incentive to produce more, which creates jobs; if they don’t expand production, then, over time, supply will dwindle, and domestic prices will creep up anyway. Don’t forget that taxes and other fees on gas production help state and local governments balance their books. Already, low prices, and the resulting reduction in drilling, have cost many communities revenue…

The enviros, Obama administration and Congressman Ed Markey hate the idea of exporting gas.

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