Opposing Efforts By Natural Gas Exporting Countries To Establish A Cartel
Madam Speaker, I thank the gentlewoman, the ranking member on the Foreign Affairs Committee, for yielding time. Madam Speaker, energy security is a critical issue with far-ranging implications for the United States and our allies. The…
Madam Speaker, I thank the gentlewoman, the ranking member on the Foreign Affairs Committee, for yielding time.
Madam Speaker, energy security is a critical issue with far-ranging implications for the United States and our allies. The United States is dependent on foreign oil and currently self-sufficient with regard to natural gas. However, in coming years, the U.S. will become increasingly an importer of natural gas as demand continues to increase to fuel our power plants, to provide feedstock to manufacturing processes and to heat our homes.
Over the course of the past decade, we have seen the evolution of the natural gas markets from a very localized market to a regional market and now international markets with international pipelines and the advent of liquefied natural gas imports.
Natural-gas-producing countries now, many who are not friendly to the U.S., are proposing the formation of a gas cartel. Another OPEC-style cartel that artificially manipulates supply and prices will clearly pose harm to the U.S. economy as well as to that of our allies.
My district, the Seventh Congressional District of Louisiana, is a major
producer of oil and gas. In fact, over the next few years, about 25 percent of all natural gas being consumed in this country will come from my district, either through pipelines, production or through liquefied natural gas imports.
I currently have one facility, a liquefied natural gas facility, that is undergoing expansion, and three others that are undergoing construction as we speak. I will say that if we see a reduction or problem with price fixing and limitations in this global market for liquefied natural gas, clearly it could have an impact not only with regard to jobs in Louisiana, but it will affect the gas distribution to the Midwest of this country, as well as to the Northeast, because I have a confluence of pipelines where the pricing mechanism for natural gas is set in my district as well as a major distribution hub.
This resolution recognizes the looming problem, and I support passage of this resolution to express the sense of Congress, but also support a joint and coordinated strategy with our allies to stabilize global markets for natural gas and to consider how we move forward on new energy exploration, alternative modes of transportation, and also to develop new technologies for new alternative energy sources.
The responsibility for energy security in this country doesn't lie solely with the Energy Department. It is also a component of our vigorous diplomatic efforts at the State Department to ensure that we have open markets and our intelligence services to assess threats. Furthermore, it needs to be part of research funding, and Congress must consider legislative changes to promote private investment and to encourage private research and development.
Our energy supply should not be influenced by the whims of our enemies. Energy independence is a matter of economic and national security. Over the next 20 to 25 years, we need to manage our dependence on fossil fuels in a strategic way while we develop alternative measures that are sustainable, diverse and friendly to our environment.
I wholeheartedly support this resolution and will closely monitor the formation of any potential cartel for natural gas, and will continue to press my colleagues for progress and sincere work on energy security measures, so that we can all work towards less dependency on foreign sources.