WASHINGTON, DC – June 10, 2014 – One of the world’s leading investors and market forecasters weighed in directly on the issue of exporting American natural gas to countries without free-trade agreements with the U.S.
“I don’t think if you have a national treasure, you should go around looking for ways to export it if you know it’s finite and you know 100 years from now or 200 years from now your great-great-great-grandchildren are going to be looking back at the policies you followed and wondering ‘Why did they decide to get rid of a very precious natural resource?” said Buffett.
Buffett also called on the U.S. “to preserve the resource for coming generations,” according to a recent article in Platts Commodity News.
“Very few people have Mr. Buffett’s ability to take the long view, especially given his knowledge of the ups and downs of the marketplace. We only get one chance at this, and it’s important we get it right. The U.S. Department of Energy has a responsibility to ensure U.S. natural gas export decisions are made in the public interest, which is why we support DOE’s recent announcement for a fresh analysis of the market conditions going forward. DOE has already approved enough LNG exports to make the U.S. the leading LNG exporter in the world – surpassing Qatar – so we need to understand the ramifications of that before moving forward. The interests of American consumers, manufacturers and the U.S. economy must come before those of our overseas competitors,” said America’s Energy Advantage.
Mr. Buffett also explained the importance of American self-sufficiency when it comes to domestic energy policy. “I would just as soon the rest of the world use the resources in the rest of the world, than use ours over time,” said Buffett.
About America’s Energy Advantage
America’s Energy Advantage (AEA) is a trade association representing many of the world’s leading manufacturers and commodity producers, as well as the United States’ publicly-owned natural gas distribution companies. Our organization is a strong supporter of rules-based free trade and believes that open markets create new opportunities for economic growth and higher standards of living for all Americans. AEA is dedicated to educating the American public about the growth in American manufacturing that has been made possible by our country’s abundant and affordable supply of natural gas.