Recognizing the benefits of natural gas to the United States economy and environment, and recognizing natural gas as an affordable and "green" energy.

Energy

house

Introduced on April 23, 2024 by Troy Balderson

Cosponsors

Legislation Details

Recognizes the benefits of natural gas to the U.S. economy and environment, labeling it as an affordable and “green” energy source.
Criticizes the Inflation Reduction Act of 2022 for establishing a punitive fee on methane emissions, suggesting it acts as a regressive tax affecting all Americans, especially those with low or fixed incomes.
Highlights that natural gas taxes or methane emissions fees increase costs for customers, including families, farmers, and small businesses, and disproportionately impact natural gas producing regions.
Credits the switch to natural gas for two-thirds of the power sector greenhouse gas emissions reductions since 2005.
Notes that U.S. methane emissions decreased by 10 percent from 2005 to 2020, despite a nearly 100 percent increase in natural gas production.
Mentions that using natural gas generates fewer emissions of nearly all types of air pollutants compared to other fossil fuels.
States that combined emissions of criteria and precursor pollutants in the U.S. have dropped by 78 percent since 1970.
References the European Union’s reliance on Russian natural gas and the EU’s classification of certain natural gas activities as “green” investments.
Mentions agreements between the U.S. and the EU to increase U.S. liquefied natural gas (LNG) exports to Europe, aiming to reduce European reliance on Russian energy.
Highlights President Biden’s 2024 announcement banning the approval process of LNG export permits to countries without a free trade agreement with the U.S.
Credits U.S. LNG exports with reducing natural gas prices in Europe by over 83 percent from 2022 levels and claims American LNG is 41 percent cleaner than Russian natural gas.
Predicts a global increase in natural gas demand by 41 percent by 2050, emphasizing the need for additional LNG export capacity.
Advocates for increased domestic usage of natural gas to reduce U.S. dependence on foreign energy and strengthen national security.
Estimates the U.S. has enough dry natural gas to last nearly a century, with potential for more due to technological and exploration advances.
Encourages the Biden administration to support U.S. natural gas production and infrastructure, and to identify and remove barriers to natural gas production.
Opposes efforts to limit, delay, or ban the approval of new and existing LNG export facilities in the U.S.

Last updated 9/28/2024