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Energy Department weighs proposal to export natural gas

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    John Roberts reports from Atlanta

  • Duration 2:21
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A new developments in the national debate over clean energy today that Energy Department is working on a new proposal they say.

That -- -- maximize profits by exporting.

Natural gas overseas John Roberts is live in Atlanta with the details on this hi John.

Page and a good afternoon to you know we talked to several times about the so called shale gas revolution fracking.

It is created so much about -- natural gas a glut of it that prices have crashed through the floor.

Now the industry is looking to line his pockets with a little more cash by exporting it in fact the US federal government has got fifteen applications to build.

Huge liquid faction terminals to export that gas.

To non free trade agreement -- -- countries and all of this has created some very interesting bedfellows first of all the white house on the same page as the energy industry after an Energy Department report said.

Exporting natural gas would be good for the economy.

On the other side -- we have people like senator Ron Wyden of Oregon the Sierra Club congressman Ed Markey of Massachusetts all lining up an opposition along with.

The Dow chemical corporation these three arguing.

That exports could raise the price of natural gas domestically and hurt industries like Dow.

They use an awful lot about his foot and her -- is the CEO of Dell said about that he said quote.

The report that the Department of Energy report offers the baffling conclusion.

That the US would be better off using its domestic natural gas advantage to fuel growth and jobs -- other regions.

-- strengthening the US economy through manufacturing and benefiting consumers.

With lower energy costs that brought this reaction from the oil and gas industry.

What's good for the goose is good for the gander.

If the chemical industry wants the free market to work so they can produce product and export it.

We should apply the same standard to the natural gas and oil industry.

So how much natural gas do we actually have a -- -- in the industry about a hundred years worth so much so that in terms of natural gas.

The US could become energy self sufficient within the next few years the current price of natural gas is about three dollars and forty cents per million BTU.

That's the unit that they measure by.

According to the department of manager report exporting natural gas could raise that price by more than a dollar.

Over the next five years which -- industry says it just doesn't want to see happen.

-- I will continue to watch that story John thank you.

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