The Biden administration has been trying for months to dodge the political fallout from high gasoline prices. Now it has an even bigger energy headache to worry about.
Republicans so far haven’t devoted much messaging to the natural gas market, though Alaska Sen.has blamed the increase on a lack of infrastructure able to match the increase in supply.
A Department of Energy spokesperson pointed to forecasts that natural gas production will eventually catch up with demand, though its statistical arm, theit expects the Louisiana benchmark price will average $7.83 per million BTU in the second quarter and rise to $8.59 for the second half of the year.
Companies like Cheniere Energy, the leading U.S. LNG exporter, are expected to ship 12.4 billion cubic feet a day of gas in 2022, a 25 percent increase from the previous year, the Energy Information Administration projected. That growth, combined with an industry that has become reluctant to speed up its steady production increases,means that LNG exports made up more than 10 percent of U.S.
Xizhou Zhou, vice president and managing director for global power and renewables at analyst firm S&P Global.
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