The private sector has given us abundant natural gas without help from Obama. Given his preference, he would stop fracking and end the benefits of new natural gas. With progress comes benefits. Especially if that progress is from the private sector.
New natural gas has created new business and new jobs. Not just in the gas drilling business. Thirty new chemical plants are planned for the US. Chemical plants rely on cheap natural gas for feedstocks. A PrecewaterhouseCooopers” study estimates U.S.manufacrurers will save $11.6 billion a year and create more than 500,000 jobs by 2025. Dow will spend $4 billion to build two chemical plants near the Gulf Coast and restart another in the next five years. Methanex will move a methanol plant from Chile to Geismar, La. by 2014. Nucor is building a new steel plant using natural gas. Potash is restarting a nitrogen plant and Rentech will expand a facility in Dubuque, Ill.
Funny thing, when the government can’t stop progress, despite trying, good things happen.
On the flip side, the EPA is rolling out the first-ever limits on heat-trapping pollution fro new power plants. More and more power plants using coal will close. More jobs lost and higher utility bills for all. All coal-fired plants will need to made expensive changes to comply with these new rules. Some will invest, some won’t. This rule will make it impossible to build new coal-fired plants and will cause premature closings of existing plants.
The benefits of new natural gas will be offset by the losses of an overzealous EPA under the direction of President Obama. As, gasoline prices go up, utility bills go up, and, as jobs are lost, the public will finally get it. Progress is not in the future under this president. As more billions are lost from his misplaced investments in solar and wind, he will be forced to face a public livid about Solyndra. This is Obama’s Achilles heel, killing progress and raising gas prices. Good luck, Mr. President.
