Today the National Taxpayers Union (NTU) reaffirmed its support for the development of an export market for liquefied natural gas (LNG), both for the widespread economic benefits gained and due to the group’s longstanding commitment to free and open trade.
“The market, not government, is best equipped to balance supply and demand and thereby create an equilibrium for prices, wages, and jobs – an equilibrium that will foster long-term economic prosperity,” said Pete Sepp, Executive Vice President of NTU. “That’s why American taxpayers have such a major stake in supporting free trade. Knowing this, why would we treat LNG exports differently?”
Recently, critics launched a coalition to oppose LNG exports, and despite their claims, recent studies have found that major net gains will result for the overall economy from allowing exports; the U.S. Energy Information Administration predicts a $47 billion boost over the next decade. This economic advantage will develop through free and open trade, not government intervention.
“The emerging growth of the natural gas sector holds tremendous potential to fuel a more robust recovery,” Sepp concluded. “Policymakers should welcome positive business trends such as these, instead of pursuing overregulation that could prevent them from ever developing.”
The 362,000-member National Taxpayers Union was founded in 1969 to work for lower taxes, limited government, and economic freedom at all levels of government. For more information on our energy and trade policy work, visit www.ntu.org.