Let’s talk about Liquified Natural Gas.
Tuesday, we spent over an hour just talking about LNG. That’s because there is a brand new report out. The governor of Oregon says this new report says Oregon probably doesn’t need LNG. It certainly doesn’t need an LNG terminal on the Columbia River.
Why? Because the governor says there is a proposed pipeline over the Rocky Mountains. The problem is that pipeline is going to cost $3 billion and nobody has even decided to build it yet. But, they do want to build an LNG terminal on the west coast.
Here’s the reason to be in favor of this. Right now about 1/3 of the people in Oregon use LNG for home heating, for electricity, for water heating, for any of those things. That LNG, liquefied natural gas, costs about $11 per million cubic feet. If you bring it in on the tankers it’s about $3 per million cubic feet.
Can you see the price difference? Can you see the advantage? The price has tripled over the last 5 years and the governor wants it to go up more. We should build the LNG terminal.