HB 40 Because LNG Exports
Are LNG exports behind the push to remove all constraints from fracking?
The United States is poised to flood world markets with once-unthinkable quantities of liquefied natural gas as soon as this year, profoundly changing the geo-politics of global energy and posing a major threat to Russian gas dominance in Europe. Source
In the U.S., natural gas prices are around $3 while it sells for $7 in Europe and around $10 in North-East Asia. That’s a pretty hefty profit so the oil and gas industry can’t allow little people with their little lives and their little ordinances and little democracy to get in the way of profits.
You ain’t see nuttin’ yet.
The contracts for LNG exports are for 20 – 30 years but shale gas wells deplete very rapidly. Fracking will need to expand into every neighborhood and backyard until the entire formation is pulverized in order to fulfill all the contracts for LNG exports.
There is one thing “above all else” required to make the LNG exports plan successful:
Above all it requires the acquiescence of the people. “It takes a thousand trucks going in and out to launch a (drilling) spud. Not every neighbourhood wants that,” he said.
Don’t worry, though, because HB 40 takes care of the acquiescence problem.