U.S. Senate Adopts New Energy Law to Emphasize Energy Diversification and Increase Utilization

(Reporter Wang Xiulan) The U.S. Senate passed a new energy bill on June 28: In the next 10 years, it will give 18 billion U.S. dollars in tax cuts to traditional energy companies and nuclear power companies to encourage more energy production while expanding the use of ethanol and biological resources. Diesel, taking measures to increase natural gas imports to meet growing domestic demand. On the 29th, the American chemical industry immediately responded to this, saying that this bill will help manufacturers and consumers reduce energy costs.

The New Energy Law emphasizes that in order to solve the problem of high energy costs, especially high natural gas prices, it is necessary to increase energy efficiency and adopt various energy-saving measures, that is, advocate diversified energy strategies, encourage diversification of energy consumption, and stimulate new technologies. Areas such as coal gasification investment.

The American Chemical Industry Association (ACC) expressed disappointment at the failure to develop the rich offshore gas resources in the US coastal states. Because only the exploitation of the rich natural gas resources at sea can effectively reduce the price of natural gas in the United States, ensure the energy security of the United States, and enable the state governments to benefit from it.

According to ACC, the United States is now the world’s highest natural gas producer. Since 1999, natural gas prices have almost tripled in the United States and have risen to about $7 per 1,000 cubic feet, which is 32% higher than European prices. In the past two years, the cost of natural gas in the US chemical industry has increased by 10 billion U.S. dollars. If the policy of restricting the production and supply of natural gas does not change, natural gas users will continue to face enormous pressure of further increase in prices.

In order to make U.S. gas prices fall back to a globally competitive level, ACC stated that it will continue to urge all relevant legislatures to support the development of the most abundant offshore gas resources and include this policy in the final national energy bill.

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