WASHINGTON, July 3, 2013 /PRNewswire/ — USINPAC commended the U.S. Congress for introducing bill H.R. 2471 by Congressman Ted Poe, Chairman of the Subcommittee on Terrorism, Non-proliferation and Trade to amend the existing Department of Energy Organization Act. The bill aims to completely transfer regulatory authority over exports of natural gas from the Department of Energy (DOE) to the Federal Energy Regulatory Commission.
The bill proposes to make it easier for companies to export U.S. surplus of natural gas, creating new jobs, boosting the economy, and strengthening international trade relationships. For countries like India that do not have an FTA with the U.S., the Natural Gas Act directs the Department of Energy to grant export authorizations unless the Department finds that the proposed exports “will not be consistent with the public interest. This bill will remove Department of Energy from the LNG export permitting process. Congressman Ted Poe has urged lawmakers to cosponsor H.R. 2471, the “Expedite Our Economy Act of 2013.”
The United States India Political Action Committee (USINPAC) has been constantly working for past several months with the lawmakers at the Capitol Hill to expedite the export of natural gas between U.S. and India. It has been closely working with the Subcommittee on Terrorism, Non-proliferation and Trade that held the recent Congressional Hearing on the LNG export issue in April 2013.
USINPAC Chairman Sanjay Puri said, “We are glad that Congress is taking positive steps in this direction our efforts to expedite the export of LNG are bringing some results. We will continue to work with the lawmakers at the Hill on this bill. LNG trade between U.S. and India will boost India’s energy security while supporting the desired growth in U.S. economy.”
About USINPAC: The U.S. India Political Action Committee (USINPAC) is the voice of over 2.7 million Indian- Americans and works on issues that concern the community. It supports candidates for local, state and federal office and encourages political participation by the Indian-American community. For more details visit www.usinpac.com
Source: Financial Content
