[Congressional Record Volume 160, Number 100 (Wednesday, June 25, 2014)]
[Extensions of Remarks]
[Pages E1066-E1067]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               DOMESTIC PROSPERITY AND GLOBAL FREEDOM ACT

                                 ______
                                 

                               speech of

                           HON. STEVE CHABOT

                                of ohio

                    in the house of representatives

                         Tuesday, June 24, 2014

       The House in Committee of the Whole House on the state of 
     the Union had under consideration the bill (H.R. 6) to 
     provide for expedited approval of exportation of natural gas 
     to World Trade Organization countries, and for other 
     purposes:

  Mr. CHABOT. Mr. Chair, I rise today to voice my support for H.R. 6, 
legislation calling for expedited approval of the exportation of 
natural gas to World Trade Organization (WTO) countries.
  As Chairman of the Subcommittee on Asia and the Pacific, I believe 
passage of this legislation is critical to strengthening the United 
States' presence in Asia, and encourages the growth of the American 
economy.
  Several weeks ago, my Subcommittee held a hearing to examine the 
implications of increasing exports of U.S. liquefied natural gas (LNG) 
to the Asia-Pacific region. The Subcommittee specifically examined the 
impact that doing so would have on our strategic interests in the 
region, as well as on the U.S. economy.
  It is very evident that increasing exports of LNG would be immensely 
beneficial to both the U.S. and our strategic partners in the region, 
and I commend my colleagues for moving this important legislation 
forward.
  The energy landscape is changing drastically in Asia. Asian economies 
are expected to be the largest consumers of energy in the world by 
2035. Current models predict that China will account for nearly 25 
percent of the total world energy demand alone. Japan is paying a 
premium for access to LNG, as a result of a near total shutdown of its 
nuclear reactors in response to the Fukushima disaster. And as India's 
economy advances, so too does its demand for energy and the price of 
natural gas. Vietnam, Taiwan, and others are also expressing strong 
interest in purchasing U.S. LNG.
  The U.S. has the opportunity to promote a more free market in the 
region, by selling natural gas that is less expensive than the gas 
supplied by other providers in the region who link their gas prices to 
the price of oil.
  And consequently, shipping U.S. LNG to Asia may free up Malaysian and 
Qatari natural gas resources which, alternatively, could be

[[Page E1067]]

shipped to Europe and alleviate their reliance on Russian energy 
supplies.
  Expanding LNG exports to include WTO countries offers the U.S. a 
chance to bolster our domestic economy and revitalize the U.S. 
manufacturing sector. In 2012, the increase in unconventional energy 
production resulted in over 2 million jobs and reduced our trade 
deficit by more than $164 billion over the last five years.
  Increasing LNG exports stamped ``Made in the USA'' brings many 
benefits both at home and abroad. By passing H.R. 6, we are taking an 
important step that strengthens our long-term strategic interests in 
Asia, and also boosts our own domestic economy. I urge my colleagues to 
support the legislation.

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