Lee Terry: “I commend the House for dedicating much of this week to energy, and I want to spend time today on the natural gas…”

“I commend the House for dedicating much of this week to energy, and I want to spend time today on the natural gas crisis. Clean-burning natural gas heats our homes, cooks our meals, and is used to produce almost everything we use, from food to fertilizer, to cars and clothes; but soaring natural gas prices have a devastating ripple effect on our economy. Families are paying hundreds of dollars more annually for their natural gas. The U.S. chemical industry has cut at least 90,000 jobs in the past 4 years. Manufacturers have moved overseas where gas prices are much lower. Farmers have seen the cost of fertilizer double in 4 years as fertilizer imports have increased by 43 percent. The Energy Policy Act, which the House passed again this week, would dramatically boost domestic natural gas supplies and lower prices. By adopting this balanced plan, we would save Americans approximately $1 trillion in natural gas costs over the next 20 years, $1 trillion saved along with hundreds of thousands of jobs.”