According to an article published by the Bloomberg, a new leap in the oil market called “Freedom Gas” was announced by the Department of Energy withal the approval of liquefied natural gas exports from the Freeport facility in Texas. This newly introduced pipeline dam is not only said to be an economic boon at home but also a foreign policy tool.
Increasing export capacity from the Freeport LNG project is critical to spreading freedom gas throughout the world by giving America a diverse and affordable source of clean energy. The construction for the Quintana Island terminal facilities, Texas started in 2014 with the expected number of 15 million metric tonnes per year of nominal liquefaction capacity affirmed by Freeport authorities.
The nation’s oil extrudes likewise extending, lifted by rising crude oil in the Permian Basin of West Texas and New Mexico. The American financial sanctions on Iran and Venezuela maintained by the restricted access to the debt and equity markets became an essential indicator of the need for a new potential energy source. By so, the future demand for the secondary supplier will have been met. Since the oil market is currently a unipolar dimension, when the Iranians put up quite a challenge for the U.S. firstly by producing more for less and secondly with the likelihood of cementing relationships with China and Russia which would result in the rising oil prices; the sanctions on Petroleum Exporting Countries left American’s hands tied. That’s why other than having the perks of clean energy, the government needed this national facility immensely.
“I am pleased that the Department of Energy is doing what it can to promote an efficient regulatory system that allows for molecules of U.S. freedom to be exported to the world,” Assistant Secretary for Fossil Energy Steven Winberg said in the statement.
For global progress, energy experts gathered in Corpus Christi, Texas and embarked on deepening the port which is believed to promise more shipments to overseas.
On the other hand, a mass group of antipollution announce this facility as an abomination in the name of humanity. Because to be blunt, the natural gas formula is a mixture of organic compound that is methane and carbon dioxide, both greenhouse gases and are dangerous for the planet. As said by environmentalist/journalist Brian Kahn in his anti-thesis “Natural Gas Is Now Called Freedom Gas, According to the Department of Energy.”
Consequently, this two-edged sword is indeed a hot topic between the good Americans and the energy policies workers.