For more than a decade, Americans could rely on cheap natural-gas prices to heat their homes and power businesses.
Prices shot up exponentially, and homeowners, renters, and businesses are still seeing the ripple effects on their utility bills — even though natural-gas prices have since fallen.
Just six years later, the US surpassed Qatar to become the world's leading exporter of natural gas.
Slocum added that natural-gas exports put upward pressure on prices, citing recent reports by the US Energy Information Administration and the Federal Energy Regulatory Commission .
The higher costs between 2021 and late 2023 are due to the energy crisis in Europe and "cannot explicitly be linked" with greater US gas exports, the spokesperson said.
Persons:
Joe Biden, Tyson Slocum, Goldman Sachs, Slocum, Mike Sommers
Organizations:
Service, Business, LNG, US Energy Information Administration, Federal Energy Regulatory, American Petroleum Institute, CNBC, Energy, Consumer
Locations:
Russia, Ukraine, Europe, Texas, New Mexico, Qatar