Industry demands end to natural gas crisis

Industry demands end to natural gas crisis

A number of organizations in the manufacturing and agricultural sectors united to protest the natural gas shortage they believe is harming the American economy. Industry leaders such as the American Chemistry Council (ACC), the National Association of Manufacturers, the American Forest and Paper Association (AF&PA), and the American Iron and Steel Institute joined in a demonstration in Washington DC to call on members of Congress to vote in favor of the Ocean State Options Act in the House Budget Reconciliation Bill. The Ocean State Options Act, fueled by energy resources in the Arctic National Wildlife Refuge (ANWR) and the Outer Continental Shelf (OCS), could potentially increase the US supply of natural gas as well as lower prices -- factors which can make or break the natural gas-dependant manufacturing and agricultural industries. According to a news release from the ACC, the shortage of natural gas in the US has driven natural gas prices up 400 percent since 2002, causing many companies, such as Simmons, Goodyear, and Newell Rubbermaid to curb production and lose profits. AF&PA president and CEO W. Henson Moore said, "Soaring energy prices have put our industry at a competitive disadvantage in the global marketplace. There is no one-size-fits-all solution to our nation's energy woes, but expanding our access to our own natural gas deposits will go a long way to improving our energy policy, strengthening our economy and having a positive impact on the environment." Specifically, The Ocean State Options Act would grant states the authority to allow oil and gas or natural gas leasing in moratoria areas off their coastlines, if the state governor and legislature agree to do so. States would be able to tailor leasing to meet their needs. When asked to comment, a AISI spokesperson provided SteelOrbis with a statement saying, "Retaining OCS and ANWR within Title VI of the Deficit Reduction Act of 2005, will help reduce dependence on foreign sources of energy by increasing domestic energy supplies, improve energy costs for consumers, and maintain jobs for hardworking Americans, all of which have a major impact on the U.S. Economy." The ACC speculates that this important vote could come as soon as this week.