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House Co-Sponsorship Memoranda
House of Representatives
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | December 10, 2013 03:34 PM |
|---|---|
| From: | Representative Eddie Day Pashinski |
| To: | All House members |
| Subject: | Resolution to Examine the Feasibility of Developing Financial Incentives to Aid in the Establishment of Liquefied Natural Gas Exportation Facilities in the Port of Philadelphia |
| In the near future, I will be introducing a resolution that would urge Congress to work in collaboration with the United States Department of Energy to examine the feasibility of developing financial incentives to aid in the establishment of liquefied natural gas exportation facilities in the Port of Philadelphia. The development of the Marcellus Shale gas formation has substantially increased the United States’ supply of domestically produced natural gas and has provided unprecedented opportunities. Production of domestically produced gas has exceeded our nation’s current consumptive use due to new drilling technologies that have allowed natural gas operators to extract natural gas from shale formations previously unavailable. With the continued development of shale gas, the consumer price of our nation’s domestically produced natural gas has decreased, benefitting natural gas consumers nationwide. Since the price of domestically produced natural gas is significantly lower in the United States than in European and Asian markets, the global demand for our nation’s gas has increased rapidly. Natural gas is a cleaner burning fuel and less expensive than petroleum-based fuels provided by the Organization of the Petroleum Exporting Countries (OPEC). Natural gas not only has the potential to allow the United States to become an energy independent nation, but it may also spur the development of additional global trading. The process of regasification allows for natural gas to be converted into a liquid state, allowing for more efficient storage and enhanced shipping capabilities. Due to global demand for our nation’s gas, the United States Department of Energy has received a growing number of applications for the exportation of liquefied natural gas to overseas markets. Since Pennsylvania has become one of the largest producers of natural gas in the nation, Pennsylvania should enjoy the economic benefits associated with the global exportation and shipping of liquefied natural gas while keeping the cost affordable here at home. |