Saturday, 19 April 2014

LNG

Texas Economy Set To Benefit From Natural Gas Boom

Texas is poised to benefit immensely from the natural gas boom as a dredging process is currently under way which will see bigger ships docking in the Port of Houston. Demands for LNG in the U.S is relatively low and so drilling companies are seeking to convert the excess commodity into much needed income by exporting it. However, for this to happen, companies will have to receive permits from the Department of Energy.

Former import terminals are now being converted into export terminals in expectation of the permits for exporting the commodity on a wide scale. So far only five companies have received permits to export LNG. The granting of permits can take years and there are many more companies on the waiting list for approval. This means that the country is losing out on potential earnings during the lengthy approval process.

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February 2014

Sunday, 16 February 2014

Power sunset

Texas Trends Up In Energy Output

With the introduction of Eagle Ford Shale, the state of Texas has the largest oil and gas development in the world. With this infusion of energy from such a massive, and multi-county, project, the state seems to believe that energy output must trend up to meet demand.

The Eagle Ford Shale project is creating jobs and infusing money into the Texas economy through the introduction of the project as it spurns on other industries as well. The project impacted the Texas economy at the rate of $60 billion and 116,000 jobs.

The expected six percent growth from year to year in just the Eagle Ford Shale area shows that the state knows it must produce in order to keep up with demand. However, the project also means that the state will receive economic impact for decades to come as the state works hard to keep power supplies up.

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