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Natural gas exports could backfire for US

Futurity -- Investing in natural gas export facilities “is a bet against what US firms excel in—developing and commercializing new technologies and products,” says economist Frank Wolak.

With the advent of the “shale gas revolution,” the United States has undergone a full-scale natural gas boom. Driven by fracking and horizontal drilling, the United States will likely overtake Russia as the world’s largest producer of natural gas by 2015, according to the International Energy Agency.

Now, as estimates of available reserves continue to go up and prices drop to less than $3 per million BTU, talk is turning to exporting natural gas—potentially a serious moneymaker, with countries like Singapore facing prices around $16 per million BTU.

Wolak understands the urge to export.

“But, there’s a significant

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Submitted Dec 21, 2012 By: skb69sa

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six_ball_man Champion Author Rochester Posts:8,558 Points:1,395,020 Joined:Oct 2007	Message Posted: Jan 4, 2013 9:03:02 PM Ignore six_ball_man Report Abuse I say we export it....AFTER we nationalize this valuable resource and use the proceeds to pay down the debt.
honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Dec 22, 2012 11:17:05 PM Ignore honda0105 Report Abuse dave: there will always be enough for export - the question is, how much does the US re-import in return (at higher prices)?
dave27johnson Champion Author Chicago Posts:1,790 Points:411,460 Joined:Feb 2012	Message Posted: Dec 22, 2012 11:06:19 PM Ignore dave27johnson Report Abuse There seems to be enough for export.
jrs4125 Champion Author Indiana Posts:2,773 Points:594,670 Joined:Sep 2011	Message Posted: Dec 22, 2012 10:51:33 AM Ignore jrs4125 Report Abuse For a few GREEDY people...... exporting this finite resource is a great idea.
honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Dec 22, 2012 7:34:43 AM Ignore honda0105 Report Abuse there aren't any good R&D ppl in the US, just about all are foreign born and raised and when they get the knowledge (and the degrees) they seek they return home. We're good on educating on the graduate levels, but not in instilling values that lead American kids to seek STEM disciplines. Not to mention, the US does not put much value on those in these disciplines.
WE0H Champion Author Twin Cities Posts:1,534 Points:481,810 Joined:Feb 2011	Message Posted: Dec 22, 2012 1:44:46 AM Ignore WE0H Report Abuse Keep the Natural Gas here. You know the crooked foreign oil companies operating in the US will sell it off anyhow to drive up their profits. We need to run these criminals out of this country.
gcalleja All-Star Author Miami Posts:929 Points:553,645 Joined:May 2011	Message Posted: Dec 21, 2012 11:22:49 PM Ignore gcalleja Report Abuse Money makes the world go 'round.
rahcat Champion Author Grand Rapids Posts:2,488 Points:666,200 Joined:Jan 2010	Message Posted: Dec 21, 2012 11:20:12 PM Ignore rahcat Report Abuse No exports.
texasvet Champion Author Texas Posts:3,844 Points:361,100 Joined:Jul 2009	Message Posted: Dec 21, 2012 11:18:45 PM Ignore texasvet Report Abuse We have plenty of gas for domestic use. No reason why we can't export some.
4warned Champion Author Michigan Posts:5,814 Points:2,166,560 Joined:Nov 2006	Message Posted: Dec 21, 2012 11:05:32 PM Ignore 4warned Report Abuse Lets take care of our own first.
cheaper0ON Champion Author Ontario Posts:1,003 Points:401,305 Joined:Jan 2012	Message Posted: Dec 21, 2012 11:01:35 PM Ignore cheaper0ON Report Abuse Hmmm...
gilfarm Champion Author Alabama Posts:6,811 Points:1,951,765 Joined:Sep 2005	Message Posted: Dec 21, 2012 10:58:17 PM Ignore gilfarm Report Abuse Keep it for our use!
pgerassi Champion Author Milwaukee Posts:10,917 Points:2,135,700 Joined:Apr 2007	Message Posted: Dec 21, 2012 10:57:29 PM Ignore pgerassi Report Abuse I agree to keeping and using NG here
TFowler513 Champion Author Memphis Posts:3,824 Points:1,416,485 Joined:Mar 2008	Message Posted: Dec 21, 2012 10:57:27 PM Ignore TFowler513 Report Abuse Old article.
GoGoGoodyear Champion Author Los Angeles Posts:2,060 Points:510,825 Joined:Mar 2010	Message Posted: Dec 21, 2012 10:57:24 PM Ignore GoGoGoodyear Report Abuse The article makes a good point. With foreign gas prices as high as they are, if producers can't export it from the US they will start exploring and fracking in those other countries where the prices are much higher and they can make a better profit. After all there is no reason why the machinery and technical know-how can't be exported.
WIPACKERFAN Champion Author Chicago Posts:8,819 Points:1,846,475 Joined:Aug 2005	Message Posted: Dec 21, 2012 10:57:14 PM Ignore WIPACKERFAN Report Abuse OK
TheHermit Champion Author Maine Posts:3,404 Points:128,230 Joined:May 2012	Message Posted: Dec 21, 2012 10:53:46 PM Ignore TheHermit Report Abuse Ok what's next
Spankster85 Champion Author Chicago Posts:1,744 Points:359,990 Joined:Nov 2011	Message Posted: Dec 21, 2012 10:52:16 PM Ignore Spankster85 Report Abuse They probably will backfire too.
Gas4Gore Champion Author Detroit Posts:2,436 Points:426,800 Joined:Jan 2010	Message Posted: Dec 21, 2012 10:51:40 PM Ignore Gas4Gore Report Abuse Oh.
MG_Sputnik Champion Author Philadelphia Posts:7,320 Points:1,963,330 Joined:Apr 2006	Message Posted: Dec 21, 2012 10:50:26 PM Ignore MG_Sputnik Report Abuse We're all doomed!
drz614 Champion Author Harrisburg Posts:2,319 Points:601,520 Joined:Aug 2011	Message Posted: Dec 21, 2012 10:41:18 PM Ignore drz614 Report Abuse i see alot of lng and cng starting in 2014. $16 vs 3, only an idiot would not export. interesting obama opened alaska wilderness to drilling while there is a good supply in the lower 48 right now. anyone want to guess where it will go?
gumbyrex Champion Author Fresno Posts:3,316 Points:762,240 Joined:Mar 2011	Message Posted: Dec 21, 2012 10:39:58 PM Ignore gumbyrex Report Abuse Mr. Wolak makes a more than legitimate argument. We should pay close attention to his warnings.
CCLighthouse Champion Author Hartford Posts:1,023 Points:216,930 Joined:Aug 2012	Message Posted: Dec 21, 2012 10:37:08 PM Ignore CCLighthouse Report Abuse Some of this fuel should go to export as a part of a balancing strategy. The major part of it should remain here.
bvrbill Champion Author Eugene Posts:3,246 Points:521,775 Joined:Jul 2011	Message Posted: Dec 21, 2012 10:33:51 PM Ignore bvrbill Report Abuse Use it here.
Chas58 All-Star Author Detroit Posts:980 Points:287,460 Joined:Mar 2011	Message Posted: Dec 21, 2012 10:26:54 PM Ignore Chas58 Report Abuse I agree with firefly09
Dragnet Champion Author Arizona Posts:15,422 Points:2,911,685 Joined:Jul 2004	Message Posted: Dec 21, 2012 10:25:45 PM Ignore Dragnet Report Abuse I think they were counting their chickens before their eggs hatched. It's the ole headline hype. Something that Americans thrive on
mstearno Champion Author Dayton Posts:8,085 Points:1,735,115 Joined:Jan 2008	Message Posted: Dec 21, 2012 10:25:07 PM Ignore mstearno Report Abuse crap article
nimpy Champion Author Indianapolis Posts:8,155 Points:1,705,005 Joined:Oct 2007	Message Posted: Dec 21, 2012 10:23:28 PM Ignore nimpy Report Abuse This is not a good idea
yyc2yow All-Star Author Ottawa Posts:668 Points:573,260 Joined:Dec 2009	Message Posted: Dec 21, 2012 10:17:57 PM Ignore yyc2yow Report Abuse keep it
REKEY Champion Author South Carolina Posts:8,594 Points:1,702,340 Joined:May 2008	Message Posted: Dec 21, 2012 10:16:06 PM Ignore REKEY Report Abuse EXPORTS!?!?!?!?! IDIOTS!!!!!
BREW9 All-Star Author Tampa Posts:901 Points:2,915,880 Joined:Jun 2004	Message Posted: Dec 21, 2012 10:14:47 PM Ignore BREW9 Report Abuse oops
Trowinsamoan Champion Author Los Angeles Posts:1,173 Points:189,765 Joined:Nov 2012	Message Posted: Dec 21, 2012 10:13:58 PM Ignore Trowinsamoan Report Abuse Do not export keep it all here
firefly09 Champion Author San Diego Posts:2,507 Points:718,650 Joined:Mar 2009	Message Posted: Dec 21, 2012 10:13:29 PM Ignore firefly09 Report Abuse hmmmmmm.
TonyPSU Champion Author Cleveland Posts:2,551 Points:697,455 Joined:May 2011	Message Posted: Dec 21, 2012 10:11:54 PM Ignore TonyPSU Report Abuse Yaddi Yaddi Yaddi
Brucevanf Champion Author New Brunswick Posts:1,371 Points:247,210 Joined:Aug 2012	Message Posted: Dec 21, 2012 10:10:50 PM Ignore Brucevanf Report Abuse Let's get North America totally switched from oil to Natural gas.
KhelbenArunson Champion Author Michigan Posts:4,461 Points:720,790 Joined:Apr 2008	Message Posted: Dec 21, 2012 10:09:46 PM Ignore KhelbenArunson Report Abuse So don't do it.
TNT2EC Champion Author Wisconsin Posts:5,009 Points:1,516,510 Joined:Oct 2008	Message Posted: Dec 21, 2012 10:09:40 PM Ignore TNT2EC Report Abuse That's right. Greed gets at it all.
Titan_62 Champion Author Maryland Posts:1,473 Points:332,030 Joined:Apr 2011	Message Posted: Dec 21, 2012 10:07:01 PM Ignore Titan_62 Report Abuse Thx for posting
wayoung56 Champion Author Alabama Posts:2,820 Points:822,235 Joined:Oct 2006	Message Posted: Dec 21, 2012 10:04:41 PM Ignore wayoung56 Report Abuse Hmmm...
clermont40miles Champion Author Cincinnati Posts:10,596 Points:1,775,795 Joined:Apr 2008	Message Posted: Dec 21, 2012 10:02:41 PM Ignore clermont40miles Report Abuse Good to see the US produce energy again.
FlyNFool Champion Author South Carolina Posts:8,259 Points:1,688,875 Joined:Aug 2008	Message Posted: Dec 21, 2012 10:01:23 PM Ignore FlyNFool Report Abuse Then lets finds way to use it at home!
billy44bo Champion Author Mobile Posts:7,222 Points:1,493,795 Joined:Feb 2008	Message Posted: Dec 21, 2012 9:56:26 PM Ignore billy44bo Report Abuse use the gas here and keep our money here and not give it to opec.
mcmonsta Champion Author Honolulu Posts:3,242 Points:821,470 Joined:Sep 2009	Message Posted: Dec 21, 2012 9:54:54 PM Ignore mcmonsta Report Abuse take care of us int USA first!!!
Chris46 Champion Author Dayton Posts:23,720 Points:2,085,240 Joined:Sep 2005	Message Posted: Dec 21, 2012 9:52:33 PM Ignore Chris46 Report Abuse Rabbit, you make a good point. Ship coal instead. Keep our natural gas at home.
jcpatriots Champion Author Massachusetts Posts:3,908 Points:602,170 Joined:Sep 2011	Message Posted: Dec 21, 2012 9:50:56 PM Ignore jcpatriots Report Abuse Not good...
abcdMA Champion Author Worcester Posts:7,942 Points:1,578,880 Joined:Nov 2008	Message Posted: Dec 21, 2012 9:46:00 PM Ignore abcdMA Report Abuse Ship it after we have enough for our needs
herbiepopnecker Champion Author British Columbia Posts:13,621 Points:2,510,230 Joined:Sep 2005	Message Posted: Dec 21, 2012 9:44:54 PM Ignore herbiepopnecker Report Abuse Ship it out! Stuff the money in a few pockets. A year later the whole country's back in the same boat,,, with no gas reserves either.
iamforiu Champion Author Indiana Posts:3,590 Points:714,665 Joined:May 2011	Message Posted: Dec 21, 2012 9:42:22 PM Ignore iamforiu Report Abuse hmmmm
southrob Champion Author Tucson Posts:3,615 Points:691,100 Joined:Mar 2011	Message Posted: Dec 21, 2012 9:41:35 PM Ignore southrob Report Abuse dhan for a better economy
EvPv Champion Author Maine Posts:1,053 Points:268,625 Joined:Feb 2011	Message Posted: Dec 21, 2012 9:40:18 PM Ignore EvPv Report Abuse the market will decide what works best for the moment. The best ones will keep an eye on the future as well.