Will LNG Rescue America's Oil-Addicted Economy?

War-weakened dollar at risk of hurtling into a free-fall vis-a-vis the yen and the euro.

Published: 29-Mar-2005

Later this year, Americans will likely hear the acronym LNG and see new tankers carrying LNG sailing into some U.S. ports. LNG is intended to save the heart and core of American civilization -- to save our automotive civilization from possible rust and decay, and the Republicans from political decline.

LNG stands for "Liquefied Natural Gas," and the tankers, coming from many parts of the world, will be carrying gas that has been liquefied at around -260 F.

Natural Gas Intelligence, a weekly gas market newsletter, reports that 43 proposals are pending for the new LNG import facilities in North America. If all are built, they could supply 60 percent of existing demand in the United States and Canada. Obstacles, such as local opposition to the new terminals, will cut the number of facilities eventually built. But, experts say, only a fraction of the number of terminals are really needed.

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