skip to main content
skip to newscasts

Tuesday, July 23, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Gov. Whitmer endorses Kamala Harris for president, says she's not leaving Michigan; Grilled by lawmakers on the Trump assassination attempt, Secret Service director says, 'We failed;' Teachers rally at national convention in Houston; Opioid settlement fund fuels anti-addiction battle in Indiana; Nonprofit agency says corporate donations keep programs going.

view newscast page
play newscast audioPlay

Democrats consolidate support behind Vice President Harris, Republicans threaten legal action over changes to the presidential ticket, and a possible bipartisan consensus forms on the failure of the Secret Service to protect former President Trump.

view newscast page
play newscast audioPlay

It's grass-cutting season and with it, rural lawn mower races, Montana's drive-thru blood project is easing shortages, rural Americans spend more on food when transportation costs are tallied, and a lack of good childcare is thwarting rural business owners.

Decreased demand for liquefied natural gas could impact TX economy

play audio
Play

Tuesday, June 4, 2024   

Workers in the oil and gas industry are warily monitoring the supply and demand of liquefied natural gas, or LNG. Texas is one of the largest producers of LNG in the country and a report from the nonprofit Institute for Energy Economics and Financial Analysis shows while there is a surplus of the fuel, demand for the product is declining.

Sam Reynolds, research lead for the Institute for Energy Economics and Financial Analysis and report co-author, said current and future operations in the Lone Star State could be adversely impacted.

"There are currently five LNG projects under construction primarily in Texas and Louisiana. You've got the Golden Pass LNG facility, the Rio Grande LNG facility, Port Author in Texas as well as the Corpus Christi LNG facility," he explained.

The Texas oil and gas industry pumps more than $26 million in state and local taxes into the state's economy annually.

Because of the decrease in demand for liquefied natural gas, the Biden administration has paused new LNG export projects that are not already under construction to assess the impact on the international market. Reynolds said the demand for the fuel started declining following Russia's invasion of Ukraine in 2022.

"Prices for LNG skyrocketed, globally. LNG became one of the most expensive fuels available," he continued. "And as a result, countries in Europe, countries in northeast Asia really strengthened their or accelerated measures to reduce their dependence on LNG. "

The United States started its first LNG export terminal in 2016 and is now the world's largest supplier of the fuel, followed by Qatar and Australia.

Disclosure: Institute for Energy Economics and Financial Analysis contributes to our fund for reporting on Budget Policy & Priorities, Energy Policy, Environment, Urban Planning/Transportation. If you would like to help support news in the public interest, click here.


get more stories like this via email
more stories
Maryland has more than 750,000 renter households, representing 33% of all households in the state. (Adobe Stock)

Social Issues

play sound

With rising housing costs an ongoing issue, a new report shows how fast rents have increased in Maryland and nationwide. The National Low Income …


Environment

play sound

The federal Bureau of Land Management has published a new plan for managing public lands which will put oil and gas management in sync with Colorado's…

Social Issues

play sound

More than 60 million Americans identify as disabled and many of them turn to nonprofit agencies such as Easterseals for therapy and other assistance…


Nationwide statistics show while overall reported hate crimes decreased by about 7% in 2023 compared to 2022, hate crime events motivated by sexual orientation bias increased 3.6%.(Anastasiia/Adobe Stock)

Social Issues

play sound

Hate crimes against members of the LGBTQ+ community have risen for the second year in a row, according to the latest "State of Pride" report from the …

Social Issues

play sound

After a historic weekend, politics turned out to be the major topic Monday at the national convention of more than 3,500 teachers union members…

The United States has 403 centers for independent living, according to the National Council on Independent Living. (Adobe Stock)

Health and Wellness

play sound

Advocates for individuals with disabilities want the state of Nevada to further embrace what is known as the "independent living" model. Dawn Lyons…

Environment

play sound

As the Atlantic coast braces for what could be an active hurricane season, environmental groups are warning about the dangers of agricultural …

Social Issues

play sound

Civic organizations with ideas for improving their communities have a new opportunity to turn their ideas into reality, thanks to recently awarded …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021