Expanded liquid natural gas imports needed, study shows
The growing cost of energy is one of a host of current challenges facing U.S. manufacturers, but the ability to expand imports of liquefied natural gas at reasonable cost would help rebuild the global competitiveness of the sector, according to a new report. The report from the Manufacturers Alliance/MAPI, U.
The growing cost of energy is one of a host of current challenges facing U.S. manufacturers, but the ability to expand imports of liquefied natural gas at reasonable cost would help rebuild the global competitiveness of the sector, according to a new report.
The report from the Manufacturers Alliance/MAPI, U.S. Manufacturing and the Evolving Global LNG Market: Prospects for Lower Energy Costs, finds that absent new sources of natural gas supply, the price of this crucial energy resource is almost certain to climb steeply.
The paper details the impact on U.S. manufacturing, highlights the measurable effects on economic activity, and heightens awareness of the developing global market for LNG.
“It is imperative that we take all available measures, including acceleration of domestic production, conservation, and expansion of LNG imports, to offset the competitive disadvantage faced by U.S. manufacturers because of record high natural gas prices,” said Thomas J. Duesterberg, president and chief executive officer of the Manufacturers Alliance/MAPI.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey