Political Quotes

On the recordMay 20, 2008
And that comes from Third World countries, dictatorships, the same type of countries that we're purchasing oil from. But let me tell you, it's not that simple. LNG, and I'm not opposed to it, but when a tanker is loaded with LNG it becomes a commodity, and countries like Japan and Spain and other countries that have no natural gas, live by it. They will currently, are paying 14 to $15 per thousand for a tanker load, and we can't afford to pay that. We're paying 11 to put in the ground. We can't put 14 and $15 dollar gas in the ground, or we are automatically doubling natural gas heating prices for next year. Now, natural gas is not just a heating fuel. We run our country with it. You know, we use--70 to 90 percent of the cost of fertilizer to grow corn to make ethanol is natural gas cost. That's what we use. Petrochemical business, 55 percent of their cost is natural gas because they use it as an ingredient and as a fuel. Polymers and plastics, 45 percent of the cost of that industry is natural gas because they use it as an ingredient, as a fuel. Almost everything we manufacture in America has natural gas in it as an ingredient, as a fuel. Really, I've had people tell me it's such a wonderful substance, we never should burn it, we should use it as the chemical that it is to make products. But we know that's not going be the case. We have lots of natural gas in America. Unfortunately, all the rich fields are locked up. Offshore is loaded.
Said by
John W. Peterson
Pennsylvania

Editor's note · Context

Discussing the implications of LNG prices and natural gas supply during a floor speech.

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