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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:8,553 Points:1,394,045 Joined:Oct 2007	Message Posted: Jan 4, 2013 10:03:02 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:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Dec 23, 2012 12:17:05 AM 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:410,260 Joined:Feb 2012	Message Posted: Dec 23, 2012 12:06:19 AM Ignore dave27johnson Report Abuse There seems to be enough for export.
jrs4125 Champion Author Indiana Posts:2,768 Points:593,695 Joined:Sep 2011	Message Posted: Dec 22, 2012 11:51:33 AM Ignore jrs4125 Report Abuse For a few GREEDY people...... exporting this finite resource is a great idea.
honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Dec 22, 2012 8:34:43 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 2:44:46 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:924 Points:551,920 Joined:May 2011	Message Posted: Dec 22, 2012 12:22:49 AM Ignore gcalleja Report Abuse Money makes the world go 'round.
rahcat Champion Author Grand Rapids Posts:2,478 Points:664,900 Joined:Jan 2010	Message Posted: Dec 22, 2012 12:20:12 AM Ignore rahcat Report Abuse No exports.
texasvet Champion Author Texas Posts:3,839 Points:360,875 Joined:Jul 2009	Message Posted: Dec 22, 2012 12:18:45 AM 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:2,164,710 Joined:Nov 2006	Message Posted: Dec 22, 2012 12:05:32 AM Ignore 4warned Report Abuse Lets take care of our own first.
cheaper0ON All-Star Author Ontario Posts:993 Points:400,005 Joined:Jan 2012	Message Posted: Dec 22, 2012 12:01:35 AM Ignore cheaper0ON Report Abuse Hmmm...
gilfarm Champion Author Alabama Posts:6,806 Points:1,950,790 Joined:Sep 2005	Message Posted: Dec 21, 2012 11:58:17 PM Ignore gilfarm Report Abuse Keep it for our use!
pgerassi Champion Author Milwaukee Posts:10,906 Points:2,133,555 Joined:Apr 2007	Message Posted: Dec 21, 2012 11:57:29 PM Ignore pgerassi Report Abuse I agree to keeping and using NG here
TFowler513 Champion Author Memphis Posts:3,824 Points:1,415,610 Joined:Mar 2008	Message Posted: Dec 21, 2012 11:57:27 PM Ignore TFowler513 Report Abuse Old article.
GoGoGoodyear Champion Author Los Angeles Posts:2,057 Points:509,890 Joined:Mar 2010	Message Posted: Dec 21, 2012 11:57:24 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:8,814 Points:1,845,400 Joined:Aug 2005	Message Posted: Dec 21, 2012 11:57:14 PM Ignore WIPACKERFAN Report Abuse OK
TheHermit Champion Author Maine Posts:3,404 Points:128,230 Joined:May 2012	Message Posted: Dec 21, 2012 11:53:46 PM Ignore TheHermit Report Abuse Ok what's next
Spankster85 Champion Author Chicago Posts:1,734 Points:358,790 Joined:Nov 2011	Message Posted: Dec 21, 2012 11:52:16 PM Ignore Spankster85 Report Abuse They probably will backfire too.
Gas4Gore Champion Author Detroit Posts:2,426 Points:424,850 Joined:Jan 2010	Message Posted: Dec 21, 2012 11:51:40 PM Ignore Gas4Gore Report Abuse Oh.
MG_Sputnik Champion Author Philadelphia Posts:7,315 Points:1,962,355 Joined:Apr 2006	Message Posted: Dec 21, 2012 11:50:26 PM Ignore MG_Sputnik Report Abuse We're all doomed!
drz614 Champion Author Harrisburg Posts:2,309 Points:599,570 Joined:Aug 2011	Message Posted: Dec 21, 2012 11:41:18 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:3,311 Points:761,240 Joined:Mar 2011	Message Posted: Dec 21, 2012 11:39:58 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:1,013 Points:214,980 Joined:Aug 2012	Message Posted: Dec 21, 2012 11:37:08 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:3,229 Points:520,575 Joined:Jul 2011	Message Posted: Dec 21, 2012 11:33:51 PM Ignore bvrbill Report Abuse Use it here.
Chas58 All-Star Author Detroit Posts:974 Points:285,865 Joined:Mar 2011	Message Posted: Dec 21, 2012 11:26:54 PM Ignore Chas58 Report Abuse I agree with firefly09
Dragnet Champion Author Arizona Posts:15,417 Points:2,910,710 Joined:Jul 2004	Message Posted: Dec 21, 2012 11:25:45 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:8,075 Points:1,733,165 Joined:Jan 2008	Message Posted: Dec 21, 2012 11:25:07 PM Ignore mstearno Report Abuse crap article
nimpy Champion Author Indianapolis Posts:8,145 Points:1,703,055 Joined:Oct 2007	Message Posted: Dec 21, 2012 11:23:28 PM Ignore nimpy Report Abuse This is not a good idea
yyc2yow All-Star Author Ottawa Posts:658 Points:571,310 Joined:Dec 2009	Message Posted: Dec 21, 2012 11:17:57 PM Ignore yyc2yow Report Abuse keep it
REKEY Champion Author South Carolina Posts:8,589 Points:1,701,365 Joined:May 2008	Message Posted: Dec 21, 2012 11:16:06 PM Ignore REKEY Report Abuse EXPORTS!?!?!?!?! IDIOTS!!!!!
BREW9 All-Star Author Tampa Posts:891 Points:2,913,930 Joined:Jun 2004	Message Posted: Dec 21, 2012 11:14:47 PM Ignore BREW9 Report Abuse oops
Trowinsamoan Champion Author Los Angeles Posts:1,168 Points:188,790 Joined:Nov 2012	Message Posted: Dec 21, 2012 11:13:58 PM Ignore Trowinsamoan Report Abuse Do not export keep it all here
firefly09 Champion Author San Diego Posts:2,497 Points:716,700 Joined:Mar 2009	Message Posted: Dec 21, 2012 11:13:29 PM Ignore firefly09 Report Abuse hmmmmmm.
TonyPSU Champion Author Cleveland Posts:2,546 Points:696,480 Joined:May 2011	Message Posted: Dec 21, 2012 11:11:54 PM Ignore TonyPSU Report Abuse Yaddi Yaddi Yaddi
Brucevanf Champion Author New Brunswick Posts:1,366 Points:246,235 Joined:Aug 2012	Message Posted: Dec 21, 2012 11:10:50 PM Ignore Brucevanf Report Abuse Let's get North America totally switched from oil to Natural gas.
KhelbenArunson Champion Author Michigan Posts:4,451 Points:719,590 Joined:Apr 2008	Message Posted: Dec 21, 2012 11:09:46 PM Ignore KhelbenArunson Report Abuse So don't do it.
TNT2EC Champion Author Wisconsin Posts:4,999 Points:1,514,560 Joined:Oct 2008	Message Posted: Dec 21, 2012 11:09:40 PM Ignore TNT2EC Report Abuse That's right. Greed gets at it all.
Titan_62 Champion Author Maryland Posts:1,468 Points:330,155 Joined:Apr 2011	Message Posted: Dec 21, 2012 11:07:01 PM Ignore Titan_62 Report Abuse Thx for posting
wayoung56 Champion Author Alabama Posts:2,810 Points:820,285 Joined:Oct 2006	Message Posted: Dec 21, 2012 11:04:41 PM Ignore wayoung56 Report Abuse Hmmm...
clermont40miles Champion Author Cincinnati Posts:10,583 Points:1,774,295 Joined:Apr 2008	Message Posted: Dec 21, 2012 11:02:41 PM Ignore clermont40miles Report Abuse Good to see the US produce energy again.
FlyNFool Champion Author South Carolina Posts:8,254 Points:1,687,150 Joined:Aug 2008	Message Posted: Dec 21, 2012 11:01:23 PM Ignore FlyNFool Report Abuse Then lets finds way to use it at home!
billy44bo Champion Author Mobile Posts:7,217 Points:1,492,820 Joined:Feb 2008	Message Posted: Dec 21, 2012 10:56:26 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:3,232 Points:820,270 Joined:Sep 2009	Message Posted: Dec 21, 2012 10:54:54 PM Ignore mcmonsta Report Abuse take care of us int USA first!!!
Chris46 Champion Author Dayton Posts:23,705 Points:2,083,515 Joined:Sep 2005	Message Posted: Dec 21, 2012 10:52:33 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:3,903 Points:601,195 Joined:Sep 2011	Message Posted: Dec 21, 2012 10:50:56 PM Ignore jcpatriots Report Abuse Not good...
abcdMA Champion Author Worcester Posts:7,932 Points:1,576,930 Joined:Nov 2008	Message Posted: Dec 21, 2012 10:46:00 PM Ignore abcdMA Report Abuse Ship it after we have enough for our needs
herbiepopnecker Champion Author British Columbia Posts:13,611 Points:2,508,280 Joined:Sep 2005	Message Posted: Dec 21, 2012 10:44:54 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:3,585 Points:713,690 Joined:May 2011	Message Posted: Dec 21, 2012 10:42:22 PM Ignore iamforiu Report Abuse hmmmm
southrob Champion Author Tucson Posts:3,605 Points:689,150 Joined:Mar 2011	Message Posted: Dec 21, 2012 10:41:35 PM Ignore southrob Report Abuse dhan for a better economy
EvPv Champion Author Maine Posts:1,043 Points:266,675 Joined:Feb 2011	Message Posted: Dec 21, 2012 10:40:18 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.