Shipping our Liquid Natural Gas to China and Elsewhere
Posted in the Brasher Falls Forum
#1 Feb 8, 2013
I was watching 'Mad Money' the other day on CNBC with Jim Cramer and he had the CEO of a company II think their name is LNG in fact) that was making huge amounts of money shipping our natural gas in liquid form out of this country. For me, this is the latest outrage of the Obama administration. He as been jumping on national news claiming that we will have energy independece in however many of years but yet one our key ingredients to getting there is being shipped out of this country at a relatively low cost so a few corrupt politicians and greedy Wall Street types can make some quick bucks. His administration has also been funding extremely expensive wind projects that literally cost 100s of times more per KWh than does power produce by natural gas. This is government corruption at its core and effects all of us. Whether you are someone who uses well water that now has been contaminated by fracting activities our someone who can't afford the heating bill in the winter because the price of natural gas has rising so much from lack of supply. Whatever happened to the energy independence in the US or to bringing manufacturing back to this country; the bull sh!t has to stop. Get rid of these corrupt hypocrites in government and lets get back to our roots as a country.
#2 Feb 9, 2013
...these are private companies... where they sell the stuff isn't the Presidents call, skippy. Wind projects? New tech always cost much more than current tech. What federal program are you referring to? The wind projects in this state are being built by private companies.
#3 Feb 10, 2013
Hey Slick, do your research the wind turbines are going up with the a large "stimulus" assistance from Federal and NY State grants. If it was truly just private funds paying for these then great but it's not and no company except the most incompetent would attempt such a money losing adventure. Real world results have shown that under the best conditions wind projects will likely output between 15 to 35% of rated capacity. So at 25% average output, a private company would not be able to come close to paying off the initial investment or maintenance required for upkeep for that matter and would quickly go backrupt.
#4 Feb 10, 2013
One giant sucking sound as Ross Perot once said and it will hit our jobs and your wallet.
HONG KONG, Aug 21 (Reuters)- The sovereign wealth funds of China and Singapore have invested a combined $1 billion in a U.S. plant that will export cheap liquefied natural gas (LNG) to Asia, a source said, becoming the latest Asian institutions to tap into the gas boom in the United States.
China Investment Corp and the Government of Singapore Investment Corp have pumped in around $500 million each in U.S.-based Cheniere Energy Partners LP's planned liquefied natural gas (LNG) export plant, a source with knowledge of the matter said on Tuesday.
Asian buyers have been eagerly eyeing U.S. LNG development opportunities in hopes of obtaining cheap gas, and buyers from top LNG importer Japan, South Korea, and India have already signed up for U.S. exports.
Cheniere Energy is building a $5.6 billion project in Sabine Pass, Louisiana. The project, expected to be ready by 2015, will be the United States' first LNG export plant since 1969.
New technology has opened up supply of natural gas from previously inaccessible shale fields in the U.S., altering the global dynamics of the industry, and turning the country from an importer to a potential exporter.
The new technology, known as fracking, releases natural gas trapped in tight layered rock formations by injecting high-pressure water, sand and chemicals.
Houston-based Cheniere has been seeking funds to start construction for the plant that is ideally located to ship LNG.
Cheniere has already signed long-term commercial contracts to supply gas to BG Group, gasNatural Fenosa, GAIL (India) Limited and Korea Gas Corp, according to documents on its website.
CHEAPER U.S. GAS
Spot LNG prices in Asia are currently around $13 per million British thermal units (mmBtu), while U.S. gas prices have been pushed to 10-year lows below $3 per mmBtu this year due to the sharp rise in shale gas production in recent years.
News of CIC's deal comes at a time of increased focus on China's investment in the energy sector in North America. Last month, China's state-owned CNOOC Ltd launched an agreed $15.1 billion takeover of Canadian oil producer Nexen Inc , in what is set to be China's biggest ever overseas acquisition.
Asian state-owned companies have stepped up purchases of overseas energy assets as they scramble to secure energy resources required to support their economic growth.
In June, Malaysian state oil company Petronas launched a C$4.8 billion takeover of its Canadian joint-venture partner Progress Energy Resources Corp.
Cheniere Energy has already seen strong interest from Asia-based institutions. In May, Singapore state investor Temasek Holdings and Asia-based private equity firm RRJ Capital agreed to invest $468 million in the company.
Private equity firm Blackstone Group LP was one of the early backers of Cheniere, when it agreed to invest $2 billion into the company in February.
The Financial Times, which first reported the investment but gave no deal value, said Blackstone advised CIC on the deal. CIC will have no direct influence on Cheniere, the report added. China's $482 billion fund is likely to escape scrutiny with its latest purchase as it is co-investing along with other institutions, the report added.
A CIC spokeswoman declined to comment, while Blackstone and GIC were not immediately available for comment. The source declined to be identified as the details of the deal were not public.
#5 Feb 10, 2013
Ya can't criticize the Pres over NYS grants, as for the Feds, like I wrote, new tech usually cost many times more than current tech until the economy of scale takes over. Hydro cost more in the early years than coal, coal more than wood. Probably 80 or 90% of early solar and wind companies will go belly up. Just like in 1915 the US had 110 automobile companies.
#6 Feb 11, 2013
And I do agree that it's good for tax payers funds to do research that might not otherwise be done. But, with over 16 trillion in national debt and a budgetary deficit of 1 trillion. The tax payer doesn't need to be funding companies that such as Solydra that will take our 1/2 billion dollar investment and go backrupt. Right now, power produced by natural gas is the cheapest form of energy we have and we have an abundance of it so that is what we should be using. If a university or company wants a small grant for R&D then fine but to front the money for hundreds of wind turbines especially when many of them are foreign made, I think the government is wasting our money. Incidentally, we had funded billions into extracting oil and gas from shale back in the 80s but it wasn't until the private sector developed the technology on its own many years later did it become viable; the government doesn't pick winners, it picks whatever is politically advantageous to them at the time.
Add your comments below
|ronnie dillon removes threads||6 hr||narc||1|
|john michaud's massena movie||7 hr||We are all stuck||2|
|old ponderosa building||10 hr||Randy||9|
|Homes for sale||11 hr||Randy||6|
|Fast food 15.00||13 hr||yup||20|
|Ok so I am wondering about landlords here in Ma... (Mar '10)||Sun||o well||63|
Find what you want!
Search Brasher Falls Forum Now
Copyright © 2015 Topix LLC