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Liquefied natural gas exports from the U.S. are looking more likely after the Freeport LNG terminal got conditional approval from the Department of Energy, Goldman Sachs Group Inc. (GS) said.
The explosive expansion of drilling of natural gas and oil wells in shale deposits in the United States and Canada using a directional drilling method dubbed “fracking” may have spawned a $30 billion per year expansion of the waste disposal business, waste and investment industry executives were told Monday.
Oil and gas fracking represents a $200 billion-a-year capital investment, and the companies doing the drilling are spending between $20 billion and $30 billion on waste disposal, said Michael Hoffman, managing director at Wunderlich Securities, during a seminar on waste management investment on the first day of the WasteExpo 2013 Conference and Exposition in New Orleans.
The U.S. Department of Energy needs to ensure that remaining requests for licenses for liquefied natural gas exports get approved, the API said.
The conditional approval of a natural gas export terminal in Texas doesn’t necessarily open the floodgates for overseas sales as the U.S. weighs how best to use its growing energy resources.
Mississippi’s leaders expect a parade of oil drillers to converge on the southwest corner of the state and are happy to cover the cost of striking up the marching music.
When a potential to fill seven billion barrels awaits, let’s get cracking, they say.