"U.S. natural gas prices have been rising for more than seven years while Congress failed to adequately address the domestic energy supply problem. Manufacturers, residential consumers, farmers, small businesses, schools and hospitals have felt the pain of the natural gas crisis in lost business, lost jobs, reduced global competitiveness and higher home heating and electricity bills. In the business of chemistry, our energy costs have tripled, from $25.1 billion in 1999 to $72.8 billion in 2007. For our industry and others that compete globally, we cannot simply pass along these higher costs. Instead, we lose U.S. production, business and jobs - often to overseas operations and competitors, where natural gas is far less expensive. Already, millions of American manufacturing jobs are gone.
"Sadly, the natural gas crisis is one that Congress has some degree of control over: natural gas prices are set regionally, not globally, and the 430 percent increase in U.S. natural gas prices since 2000 is largely due to federal energy policies that drive up demand (e.g. for cleaner electricity) while restricting access to domestic supplies. With the economy in trouble and energy prices largely driving the inflationary and recessionary threat, it's critical that Congress include domestic natural gas supply on its agenda this year."
