This piece about natural gas in the “Washington Post” published Wednesday discusses the economical benefits of fracking. According to the article, expanded production of natural gas has caused the U.S. to pass Russia as the world’s largest gas producer, created thousands of jobs and reduced electricity rates.
The Energy Department is currently considering allowing at least seven companies to export natural gas. If all are approved, the United States would be capable of exporting a quantity of gas equal to almost one-fifth of our current consumption. The department also estimates that by 2035 exports could raise gas prices up to 9 percent.
On the other hand, an increase in U.S. exports could be inevitable in countries such as Canada, Mexico and South Korea because it already has free-trade agreements with them. Government approval of such trades in other countries would require them to find “such action is consistent with the public interest.”