Also in this playlist...
This transcript is automatically generated
And a half percent.
Are -- top story tonight thanks to a new study by the Department of Energy US -- closer to approving natural gas exports.
The data shows it could fuel the economy by up to forty have been billion dollars and 20/20 that.
So it -- -- turning out Chris -- CEO of brightly oil and gas Chris welcome back to the show thanks so much for joining us.
What are you what make of this report -- any person onto Baidu and it's possible.
Why do you think it's possible and I'm glad to see it come out because what it really does now.
If -- shows over the twelve different scenarios that the government study -- -- each one of those scenarios came back and -- America will benefit.
And have a positive economic gain if we export.
LNG offshore to Europe and North Asia and to other countries who need our -- So we have so much natural gas that has been unlocked as a result of fracking -- probably is.
-- actually emotionally we can never wrap our heads around exporting energy I mean we're sure that we have to keep -- all or self.
Do you think we can get over that hurdle did think that the precedent and Washington in general can get over that hurdle.
-- it was a great point Melissa and then what describe it really is protectionism and you're right America has a history.
Of one to protect our assets -- I think that's great but I think in the scenario that we're looking that now is unprecedented America has so much natural gas.
But I think we can fuel our transportation.
Our power generation and our domestic energy needs and we can actually export the surplus.
So could be a cake and eat it too scenario and like you said within eight years are now seven years as we turn into the new new 2013 year here.
It -- fifty billion dollar economic impact.
To this country so we're -- -- over dollars to try to say yeah -- not be able to impact the economy here.
No but you know and there -- so much of the country they -- so many environmentalists so many people on the -- Who just hate generating energy I mean.
Big big barely -- to generate enough energy to fuel our own economy much less more to go and -- could actually make money.
So I was born in Iraq over that hurdle.
There there's two theories -- no one theory is that would never be able to export unlimited amounts of natural gas that if we do exported it'll be capped.
-- to be taxed so heavily that the premium once we liquefy it -- gas it.
Going to Europe or -- Asia but it may not be enough premium their make us competitive against Australian -- here qatari LNG -- competing with so.
We'll have to -- but I do think.
That if you look at where America's going on the oil side but when he seventeen -- be in the biggest producer of oil even bigger Saudi Arabia Russia.
Now don't -- me right there right beside us we felt 200 years worth of natural gas supplies are ready.
If natural gas prices were to increase we can go back to -- natural gas which some analysis so.
-- if we exports six BCF for six billion cubic feet of natural gas today yeah it would only impact the price of Henry hub natural gas say by twenty cents per million cubic foot so a very small number of increased global environment -- -- head if you export is gonna doubled in price.
Yeah or yeah I mean like one of the problems -- as your drilling down on the details here is that you know it is a gas you have to turn it into a liquid in order to be able to -- on -- ship.
And exported to another country did you needed terminal there.
You know where you can receive it back and again has all like -- -- happening that have a lot of money the price does that this is it -- -- -- are those contracts.
-- it it works because America has cheap natural gas right now and if you look at the numbers a five dollar number that it adds on top of the natural gas commodity price -- America going to Asia.
At about 450 going to Europe the different -- the Panama Canal Panama Canal told way.
But fifty cents there.
So right now at three dollars and 60 cents this morning were again at 815 going to Europe and not angle and Asia would usually understand your paced ten to twelve dollars for their gas patients -- -- sixteen sort of competitive number and it does make sense.
Will America be able to -- I think we will the real question is that what kind of scale.
Yeah I don't know and also I could see the government coming in -- taxing the hell out of it just ruining the whole thing but.
You know that's a debate for -- OK thanks so much for joining us we appreciate your time thanks militant dots are right time.
Filter by section