The Importance of Natural Gas

Floor Speech

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Mr. BUCSHON. Mr. Speaker, I thank Mr. Olson and Mr. Johnson for hosting this Special Order.

Manufacturing is a key industry that helps drive Indiana's strong economy. According to the National Association of Manufacturers, Indiana manufacturers exported $33.78 billion in goods and employed 16.8 percent of the Hoosier workforce in 2016. Much of the credit for such a strong manufacturing presence in Indiana is its relationship with natural gas.

In 2016, a comprehensive study was released detailing the positive effects that domestic natural gas brought to communities across the Nation. The study prepared by the National Association of Manufacturers provides examples of how natural gas is increasing the industrial strength and worldwide competitiveness of American companies.

Among the findings, the study said that the natural gas industry has added nearly 1.9 million total jobs to the economy and saved working American families an average of $1,300 in disposable income in a single year through the production and use of shale gas.

According to the study, the U.S. supply of natural gas is projected to increase by 48 percent throughout the course of the next decade, resulting from the growing demand for this energy source.

During periods of high commodity prices, companies that rely on a high volume of natural gas to manufacture products can find it difficult to maintain a competitive advantage in an increasingly global market. However, an abundant supply of domestic natural gas has led to a reduction in natural gas prices. In turn, this increased affordability is allowing these companies to increase their manufacturing output.

Further, the transportation of natural gas through an expanding national pipeline network means that this clean-burning natural resource is also becoming more accessible for American companies and presents a growing number of manufacturing opportunities.

Through the increased production of domestic shale gas alone, more than a million American jobs were created to help meet the demand for the energy source.

Additionally, the need for the manufacturing of new natural gas transmission pipelines across the Nation added several hundred thousand jobs on top of that. This surge in new jobs, coupled with the monetary profits gained from additional natural gas production, has led to a GDP hike of $190 billion. Ultimately, this translates into more disposable income in the pockets of hardworking Americans.

Finally, the use of natural gas, both as a fuel source and a raw material, has resulted in environmental benefits as well, and we should not lose sight of that.

With the International World Gas Conference just 1 week away, I am proud of the continued growth and success of our domestic natural gas industry, which is helping to power this country's economic and manufacturing growth.

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