Incitec Pivot Ltd., Australia’s largest fertilizer maker, plans to build a $850 million ammonia plant in Louisiana to take advantage of low natural gas prices and government policies to support manufacturing in the U.S.
U.S. natural gas prices may stay in a range of about $4 to $6 per million British thermal units during the next decade even if exports of the heating and power plant fuel expand, the American Gas Association said.
President Barack Obama says his picks to guide energy and environmental policy in his second term will lead the charge against global warming, a fight that may have one immediate beneficiary: natural gas.
The American Gas Association, which represents 195 energy companies that serve 64 million customers, said today that speculation should be curbed in the markets for natural gas, crude oil and gasoline.
Ron Jibson, the incoming chairman of the American Gas Association and top executive of an energy company, said he expects the U.S. Energy Department to approve “closely controlled” exports of natural gas.
President Barack Obama’s bid to expand offshore drilling may be set back after a rig leased by BP Plc exploded and sank last week, reminding the public of the danger of oil extraction, environmental and industry groups said.