Thursday, October 3, 2024

LNG

Because of fracking the US has an abundance of natural gas which keeps energy prices low. Ammonia is made from natural gas and is responsible for the increase in grain production which has been significant. In 1950 corn production was 37 bushels per acre and today it is 177. The same is true for all crops and this has kept many countries from suffering from low food supplies. Natural gas is the main feed stock for chemical companies and many European companies are relocating to the US because of the low price of gas. Natural gas in the US cost about $2 and in Europe it is $8. Home heating cost in the US are four times cheaper than in Europe. If the US would go to natural gas for transportation the fuel cost would be cut in half. The US is the largest exporter of liquefied natural gas (LNG) and expected to double exports by 2028. The US has 8 LNG export facilities and expected to have 17 more in the next five years. The expanded use of natural gas will do more to bring down the the problem of climate change than anything else other than going to nuclear power.

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