Liquified Natural Gas Exports Improve The U.S. Economy

As a new study from S&P Global makes clear, liquified natural gas (LNG) exports from the United make the country stronger and deliver significant economic, environmental, and geopolitical benefits. The U.S. Chamber of Commerce supported the research, which provides a comprehensive and objective assessment about the effects of the U.S. LNG industry on the country and the world.

Specifically, S&P Global found LNG exports will add $1.3 trillion to the U.S. economy through 2040, creating nearly 500,000 new jobs and contributing $166 billion in tax revenues. At the same time, U.S. energy producers will help keep the country’s industrial metals and broader manufacturing sectors competitive with some of the lowest natural gas input prices in the world.

Today, the United States is the world’s largest producer of natural gas. The increased use of this fuel lowers energy bills and operating costs for U.S. consumers and businesses, improves air quality by reducing greenhouse gas emissions, and bolsters national security by reducing U.S. reliance on foreign energy.

Unfortunately, earlier this year, the Biden administration imposed a moratorium on the development of new LNG export facilities. Recently, the U.S. Department of Energy followed up with a flawed study that downplays the clear economic, environmental, and security benefits of U.S. LNG. The Metals Service Center Institute, the U.S. Chamber of Commerce, and its allies will continue to advocate in the new year for reversing this ban.