A key claim from environmental activists and supporters of the Biden administration’s export ban is that increased LNG exports drive up domestic prices. But data continuously shows this is demonstrably false:
SHOT:
CHASER:
#TodayInEnergy – Henry Hub daily #naturalgas spot price fell to record lows in February https://t.co/ldjILFNpDu pic.twitter.com/VSjG2HBybd
— EIA (@EIAgov) February 28, 2024
Bottom Line: As EID has discussed time and again, data clearly show that increased LNG exports are not raising domestic energy prices. Even as the United States hits record exports, prices at home remain consistently low and stable – a fact confirmed repeatedly by the Department of Energy. The reality is: the U.S. oil and gas industry has proven it can meet demand at home and keep prices stable – all while supplying global energy security abroad.
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