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June 12, 2018

In Senate Hearing, King Pushes to Protect Consumers from Increased Energy Costs

WASHINGTON, D.C. – In today’s hearing of the Senate Energy and Natural Resources (ENR) Committee, U.S. Senator Angus King (I-Maine) pushed leaders of the Federal Energy Regulatory Commission (FERC) to ensure that any exports of liquid natural gas (LNG) would not hurt people or businesses across Maine by jeopardizing America’s competitive advantage and driving up energy prices.

“I just want on the record, I’m gravely concerned that we don’t get into [liquid natural gas] exports to the point where it’s significantly impacts domestic gas prices, because we would be giving up one of the great advantages this country now holds in the world economy,” said Senator King. “And there’s one law this body can’t repeal, and that’s the law of supply and demand.”

Senator King has repeatedly spoken out against increasing exports of LNG when more natural gas is desperately needed in Maine and across New England to help lower energy prices. Last year, he introduced the Natural Consumer Gas Protection Act, which would require the Department of Energy (DOE) to consider the effect that any natural gas export proposal would have on domestic prices and employment, regional impacts, and any impact on U.S. industrial competitiveness. In 2015, he introduced the Domestic Energy Security Protection Act and the Regional Gas Consumer Protection Act, bills which aimed to prevent America from giving away one of its sole economic advantages – lower energy prices – to international competitors when it could benefit the country. He has also joined with his colleagues to push the Department of Energy to see that it considers the impact on families and manufacturing before approving LNG export applications.

Today’s ENR session was an Oversight Hearing for FERC, and featured FERC Chairman Kevin McIntyre, and FERC Commissioners Cheryl LeFleur, Neil Chatterjee, Robert Powelson and Richard Glick.

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