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26 Energy L.J. 349 (2005)
Energy and the Environment: The Future of Natural Gas in America

handle is hein.journals/energy26 and id is 359 raw text is: ENERGY AND THE ENVIRONMENT: THE FUTURE OF NATURAL GAS IN AMERICA United States Senator James M. Inhofe & Frank Fannon* INTRODUCTION Natural gas has been regarded as the ideal fossil fuel for multiple uses- from electricity generation to manufacturing, in part because of its efficiency, in part because of its relative cleanliness, and in part because of its relatively low delivered cost. For many years, natural gas was a wise and easy choice; America is blessed with an abundant supply and gas bums cleaner and is considered by some to be more environmentally preferable to other fuels. That abundant supply translated to low prices, and those low prices helped fuel a strong and vibrant economy. Now however, the days of low gas prices are over, and the nation is in the midst of a very real natural gas crisis. Most people probably do not realize the importance that natural gas plays in their daily lives, but they certainly have noticed that they are paying more for energy than they did a year ago. As more of a family's income is diverted for energy costs, less money can be spent on providing for their children's education, less money can be invested in their small business, less money can be saved for retirement. Not surprisingly, these higher prices are most acutely felt by the poor and those on fixed incomes. Many of our nation's workers have unfortunately felt the result of high natural gas prices in the most severe way-they have lost theirjobs. Natural gas is a principal feedstock to several industries including chemical and petrochemical manufacturing, the pulp and paper, steel, and fertilizer industries. When the domestic costs of production increase relative to global competitors, U.S. domestic manufacturing companies lose out. Policymakers and the public are struggling to determine why the U.S. is in the grip of this natural gas crisis. Why have natural gas prices increased so dramatically? Why has the market been unable to correct itself to find balance? Most importantly, how can Congress effect federal policies that will temper the natural gas crisis? As the Mayor of Tulsa and later a Representative and Senator representing the oil and gas producing State of Oklahoma, I have been involved with natural gas policy spanning five decades. As Chairman of the U.S. Senate Committee on the Environment & Public Works, I have focused on the situation with renewed fervor. On March 25, 2004, 1 chaired an oversight hearing concerning the environmental considerations affecting natural gas prices. At that hearing, representatives of the natural gas production industry, manufacturing sector, environmental groups, farmers, and even a Northeastern Governor testified. The conclusions and lessons learned from that hearing were far-reaching and significant. Yet, the most dramatic finding was that U.S. federal laws and policies have contributed in large measure to the nation's natural gas crisis. In large part, changes to the Clean Air Act and other air-related regulations have driven increased demand for natural gas. Yet, other federal environmental Senator Inhofe is the Chairman of the Committee on Environment and Public Works. Frank Fannon is Legislative Counsel for the Senate Committee on Environment and Public Works.

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