U.S. Natural Gas Prices Near $10, Oil Prices Set Records |
Congress Must Reverse Damaging Trend, Add Domestic Energy Supply to
Legislative Agenda
ARLINGTON, Va., March 7 /PRNewswire-USNewswire/ -- This week U.S.
natural gas prices neared $10 per MMBtu -- more than quadruple the 1999
price of $2.38 -- as oil prices hovered just over $100 per barrel.
http://www.bloomberg.com/markets/commodities/energyprices.html
American Chemistry Council (ACC) President & CEO Jack N. Gerard issued
the following statement:
"This week's sky-high energy prices signal that Congress has much
energy work left to do. We welcome lawmakers' attention to energy diversity
and efficiency -- policies we have long-supported. But domestic energy
supply is a vital missing piece Congress ignores at America's cost.
Congress can help prevent further damage by looking again at moratoria on
domestic energy development. We strongly urge lawmakers to support
legislation such as the National Environment and Energy Development (NEED)
Act.
http://thomas.loc.gov/cgi-bin/bdquery/z?d110:h.r.02784: It will not be
a moment too soon.
"U.S. households, manufacturers, farmers and other natural gas
consumers pay dramatically more for natural gas when federal energy policy
keeps restrictions on our own domestic supplies -- the only industrialized
nation in the world to do so. Since 1999, the cumulative increase in the
nation's natural gas bill is more than $522 billion -- that's $4,568 per
taxpayer. America's chemistry sector has lost more than 118,000 jobs, and
the manufacturing sector as a whole has lost three million jobs. If milk
prices had increased at the same rate as U.S. natural gas prices, a gallon
of milk would cost $11 today. Gasoline would cost $5.37 a gallon.
"Natural gas will have a prominent role in Congress's attempts to
reduce greenhouse gas emissions. It's used for cleaner electricity
generation, cleaner transportation fuels, hydrogen for fuel cells and as a
key feedstock for chemistry used in products to improve energy efficiency
-- from wind power blades and solar panels to energy-efficient appliances,
compact fluorescent light bulbs, coatings, lubricants, low-rolling
resistance tires and many others. Increased access to domestic natural gas
supply should be a key feature of any climate policy that Congress
considers."
http://www.americanchemistry.com/newsroom
The American Chemistry Council (ACC) represents the leading companies
engaged in the business of chemistry. ACC members apply the science of
chemistry to make innovative products and services that make people's lives
better, healthier and safer. ACC is committed to improved environmental,
health and safety performance through Responsible Care(R), common sense
advocacy designed to address major public policy issues, and health and
environmental research and product testing. The business of chemistry is a
$635 billion enterprise and a key element of the nation's economy. It is
one of the nation's largest exporters, accounting for ten cents out of
every dollar in U.S. exports. Chemistry companies are among the largest
investors in research and development. Safety and security have always been
primary concerns of ACC members, and they have intensified their efforts,
working closely with government agencies to improve security and to defend
against any threat to the nation's critical infrastructure.
SOURCE American Chemistry Council
back to topRelated links:
CONTACT:
Jennifer Scott of American Chemistry Council,
+1-703-741-5813, Jennifer_Scott@americanchemistry.com
