KAREN HARBERT: Affordable Energy At Home And Strength Abroad Depend On Policies That Deliver U.S. Natural Gas
Energy security is national security. It’s a lesson our nation has learned before and one it can’t afford to forget now.
As tensions and conflict in the Middle East evolve rapidly, Iran has threatened key energy corridors, and global markets are on edge. LNG trade and Middle Eastern energy production have been disrupted, sending prices across Europe and Asia skyrocketing.
In the United States, however, the story is markedly different. Even amid global uncertainty and severe winter weather, natural gas prices remain near $3, far below levels seen abroad. America’s abundant domestic resources, robust storage and extensive delivery network have insulated U.S. customers from the volatility driving up costs elsewhere.
That advantage is neither accidental nor guaranteed.
In March 2003, as U.S. forces entered Iraq, America confronted a very different reality: it was still heavily dependent on foreign energy. Prices were rising, supply was uncertain and energy security was an active concern shaping economic and strategic decision-making. Natural gas prices hovered around $5.20 – more than $9 in today’s dollars. Energy vulnerability was a strategic liability.
Today in the United States, however, the story is markedly different. The U.S. is now the world’s largest producer and exporter of natural gas, a transformation that has fundamentally altered our economic and geopolitical position. At home, abundant supply helps keep prices lower and more stable for American families and businesses, even as global markets experience sharp swings. Abroad, U.S. natural gas has........
