According to the U.S. Energy Information Association (IEA), U.S. storage of Liquified Natural Gas (LNG) is 12% below the five-year average (LINK). Additionally, the IEA is expecting the U.S. to export 11.7 billion cubic feet of LNG per day during the fourth quarter of 2022 — up 17% from the third quarter. The destination of that export is Europe.
Consider that 43% of U.S. households use LNG for home heating, and power suppliers use LNG to create electricity. With the massive 2022 exports of LNG to Europe (+17% in fourth quarter alone), that means lower domestic supplies and increased prices here in the United States for electricity and home heating. We are seeing and feeling these massive price increases right now. As a result, consider this reality….
Not only are U.S. taxpayers directly paying for the majority of costs in Ukraine, but we are also subsidizing the European Union by exporting LNG and driving up the price here at home.
We are directly paying Ukraine, and indirectly paying Europe to maintain gas sanctions against Russia. This is the reality of the current situation as created by the Biden administration.link