“Yep, we are going to be a gigantic importer of oil and a gigantic exporter of natural gas.”
Jim Cramer, host of CNBC’s “Mad Money”
What Could Possibly Be Wrong About That?
The Oregonian’s Steve Duin makes it clear that not only is something wrong with the proposed conversion of LNG import terminals, like Jordan Cove in Coos Bay, to LNG export terminals, there is something deplorably wrong about it. Duin says, “It’s a jaw-dropping contradiction, a classic bait-and-switch. It’s a thumb-in-the-eye of energy independence and the sort of numbing stupidity that, T. Boone Pickens argues, will confirm our legacy as ‘the dumbest generation.’”
Exporting natural gas to the UK, EU and Asia will drive up prices in the United States. Prices in Europe and the United Kingdom are triple those in the U.S., and Japan, after the earthquake and tsunami, is paying five times the U.S. price. Natural gas in the U.S. trades at about $4 per million Btu, while Asia pays at least $14, and Japan is buying at $20. The huge LNG carriers (highly specialized tankers) can haul more than $40 million dollars worth of LNG across the Pacific on each trip. Just imagine the mind-boggling profits! What could possibly be wrong about that?
Texas billionaire T. Boone Pickens, an advocate of natural gas, told the paper that exporting large amounts of natural gas overseas would not only be a mistake but a security issue that would mean “we’re truly going to go down as the dumbest generation.”
“It’s bad public policy to export natural gas — a cleaner, cheaper domestic resource — and import more expensive, dirtier OPEC oil,” he said.
So, what could possibly be wrong about switching the Jordan Cove LNG Import Terminal to the Jordan Cove Export Terminal? For Williams Partners L.P., Fort Chicago Energy Partners and PG&E (the owners of the terminal and pipeline) it would be a cunning business deal.
But, for all the rest of us, those of us who would lose our land to the pipeline, and be forced to pay for dredging, docks, tugs, security, and environmental clean-up… and run the risk of a catastrophic disaster…it would just be really dumb.
It is really unfortunate The World allows threatening comments like one I saw about Jody and yet do so little to report on how reckless and incompetent some of our leaders behave with our lives and our money.
I posted my THIEF comment at the world, they won’t post it. lol
It hits too close to home for them I suppose.
One Tainted Water Well, and Concern There May Be More
http://www.nytimes.com/interactive/us/DRILLING_DOWN_SERIES.html
have you noticed all the commercials lately, telling us how safe fracking is.
The marketing push is really going strong now to sell this LNG plan to America and Coos Bay.
DRILLING DOWN
Insiders Sound an Alarm Amid a Natural Gas Rush
http://www.nytimes.com/2011/06/26/us/26gas.html?pagewanted=all
I see JCEP has filed for their export permit, and dim-witted supporters are blasting away at JM for being sane. All I can say to them is, if you support taking others land for corporate profit, that makes you a thief by proxy. It appears there are a lot of thieves in our community and a fair share are in office or near enough to influence the office holders to become thieves themselves.