Economy

jakeXT

(10,575 posts) Tue Dec 30, 2014, 06:54 PM Dec 2014

The Oil Crash Has Claimed Its First Casualty

Excelerate Energy's Texan liquefied natural gas terminal plan has become the first victim of an oil price slump threatening the economics of U.S. LNG export projects.

A halving in the oil price since June has upended assumptions by developers that cheap U.S. LNG would muscle into high-value Asian energy markets, which relied on oil prices staying high to make the U.S. supply affordable.

The floating 8 million tonne per annum (mtpa) export plant moored at Lavaca Bay, Texas advanced by Houston-based Excelerate has been put on hold, according to regulatory filings obtained by Reuters.

The project was initially due to begin exports in 2018.

http://uk.businessinsider.com/r-exclusive-oil-price-crash-claims-first-us-lng-project-casualty-2014-12?r=US

8 replies

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The Oil Crash Has Claimed Its First Casualty (Original Post) jakeXT Dec 2014 OP

So we should pay more for gasoline so upaloopa Dec 2014 #1

Well-- Jackpine Radical Dec 2014 #2

Why? upaloopa Dec 2014 #3

I forgot part of my post. Jackpine Radical Dec 2014 #5

Ok upaloopa Dec 2014 #6

Our natural gas prices just went UP. dixiegrrrrl Dec 2014 #7

I use to use LPG which is not the same as upaloopa Dec 2014 #8

I'm assuming the low oil prices are all about driving 'green energy' out of business 99th_Monkey Dec 2014 #4

upaloopa

(11,417 posts)

1. So we should pay more for gasoline so

Reply to jakeXT (Original post)

Tue Dec 30, 2014, 06:56 PM

Dec 2014

they can export natural gas to some other country?

Jackpine Radical

(45,274 posts)

2. Well--

Reply to upaloopa (Reply #1)

Tue Dec 30, 2014, 07:01 PM

Dec 2014

Yes.

upaloopa

(11,417 posts)

3. Why?

Reply to Jackpine Radical (Reply #2)

Tue Dec 30, 2014, 07:04 PM

Dec 2014

The oil and gas industry in this country uses methods of extraction that harm our environment then ship the products out of the country leaving us to deal with the polluted water.
You prefer that?