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LNG Exports Help Drive 52% Increase In Natural Gas Prices, Expose Consumers to Price Shocks

New report exposes how much LNG exports drive up energy bills for U.S. consumers state-by-state

WASHINGTON, D.C. — Between 2016 and 2023, the price U.S. households paid for natural gas has skyrocketed by 52% just as exports of liquefied natural gas (LNG) surged, according to a report released today by Public Citizen and Symons Public Affairs. The dramatic increase in LNG prices hit U.S. energy consumers with higher bills and drove record Big Oil profits.

The report, based on data from the U.S. Energy Information Administration, highlights how the surge in gas prices has rippled through the economy, affecting everything from fertilizer prices to the cost of electricity produced by burning gas for fuel. In 2023, American families and businesses spent $105 billion more on electricity than they did in 2016. Low-income households feel the effects even more, with one in six households experiencing energy debt.

The report also delves into the state-by-state impacts of the LNG export buildout on energy prices. For example, households in Pennsylvania and Michigan paid 51% more and 41%, respectively, for natural gas in 2023 than they did in 2016.

“Energy prices are increasing by billions of dollars for American families because big oil and gas companies are exporting LNG overseas. Intertwining U.S. natural gas with foreign markets subjects families to volatility and price shocks, and harms American businesses that compete with China and other countries for American gas,” said Tyson Slocum, director of Public Citizen’s Energy Program.

Jeremy Symons, principal at Symons Public Affairs said, “Oil and gas companies are profiting twice from LNG exports by selling exports abroad to the highest bidders and by making excess profits from increased prices at home. Americans are suffering the consequences of the rapid expansion of U.S. LNG exports to their health, their pocketbooks, and the climate, all while the oil and gas industry reaps the rewards.”

This report comes amid the Biden-Harris administration’s temporary pause on approvals of new LNG export facilities, announced this January. During the pause, the Department of Energy (DOE) is re-examining the studies and analysis used to determine whether gas export facilities are in the public interest as required by law.

Read the full report here. 

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