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(London.CityRegions.com, June 06, 2013 ) Altrincham, UK -- Energy secretary Ernest Moniz has halted his final decisions on allowing companies to produce liquefied natural gas to export until he reviews studies on the impact it would have on domestic natural-gas supplies and prices.
Moniz was sworn earlier this month, and promised at his confirmation hearing that he’d review the studies available before making any final decisions, before acting on the proposals for exporting natural gas. He wants to make sure the the data for the studies already available isn’t outdated.
One particular study by the Department of Energy (DOE) last year, concluded that exporting natural gas would help the economy as a whole, even if domestic prices continued to skyrocket. Moniz is afraid that the data they used for this study is out of date. According to Moniz, State Energy Committee Chairman Ron Wyden and other critics have come to him with concerns that the study was flawed and relied on unrealistic assumptions.
Moniz plans to review the data as quickly as possible to either accept or decline proposals so he and the companies involved can move forward. About 20 applications to export the gas to countries that do not have free-trade agreements with the United States are pending before the Energy Department.
Ernest Moniz replaces Steven Chu, who worked President Obama on his first term. However, Moniz is a familiar face. He worked as an undersecretary for the energy department during the Clinton administration. Monez wants to move forward with Obama’s new “all-of-the-above” energy plan as well as promoting technology for a greener future.
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Source: EmailWire.Com
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