Category : Oil
In the latest Thursday forum convened by the House Energy and Commerce Subcommittee, several delegates in attendance called for the United States to increase exports of liquid Petroleum gas.
Among the delegates that support an increase in exportation of gas included India, Hungary, Japan, Thailand, Czech Republic, and Haiti. The delegates argued that there were several benefits to be gained if the U.S increased its LPG exports. Some of the benefits cited were:
• Assistance in diversification of domestic energy markets
• Affordable energy prices due to increased completion
• Improvement of US diplomatic relations
South Korea’s ambassador to the U.S added that the move would open the possibility of the strengthening of relationship between US and Korea. Hungary and Czech Republic delegates said that Russia would receive more competition as they are the major supplier of oil and gas in Eastern Europe. This would translate into a reduction of gas prices which many consumers would welcome.
Ed Whitfield, chairman of the Energy and Power subcommittee agreed that a move to export more gas would be in the country’s best interest but added that some interest groups were in opposition of it.