Posted 3/11/2024, 5:56:00 PM
U.S. Natural Gas Exports Drive Prices Higher for Americans
- U.S. has become the world's largest exporter of natural gas, shipping 88.9 million metric tons abroad in 2021
- Economists find that high U.S. exports have connected domestic prices to higher global prices, more than doubling what Americans pay
- U.S. gas prices used to be uncoupled from oil prices due to oversupply, but are now trading like a global commodity
- By 2030, U.S. natural gas prices forecast to be 54% higher than if the U.S. exported less
- Fracking boom increased U.S. gas production so much that the country went from being a net importer to major exporter in just a few years
