“Energy savings represent 6.8 percent of income for the lowest fifth of households, compared with 1.3 percent for the highest fifth. “Because lower-income households spend a larger share of their income on energy bills, the savings have greater relative importance for them,” the Council of Economic Advisers wrote. The economic adviser group also noted that the reduction in energy prices has especially helped America’s lower-income families. The CEA found that the shale revolution in natural gas has saved American consumers $203 billion every year, which amounts to an average of $2,500 in savings for a family of four. “Nearly 80 percent of the savings stem from a substantially lower price for natural gas, of which more than half comes through lower electricity prices,” the CEA said. electric power sector.” The explosion in natural gas has lowered American energy prices, leaving more Americans with more money to save and invest in their future. natural gas exports exceeded growth in natural gas consumption in the U.S. The federal energy agency also noted that in 2019 “growth in demand for U.S. net exports has been led primarily by increases in liquified natural gas (LNG) and pipeline exports to Mexico. Energy Information Administration (EIA) forecasted in January 2020 that American natural gas exports will almost double by 2021 to an average of 7.3 billion cubic feet per day. It has also improved the country’s geopolitical flexibility and influence, as evidenced by concurrent sanctions on two major oil-producing countries, Iran and Venezuela,” the CEA report said. economy more resilient to global price spikes. “The innovation-driven surge in production and exports has made the U.S. The CEA contended that the country’s growth and dominance in the fossil fuel sector has boosted the economy and has fortified national security. Further amplifying Trump’s success in boosting America’s energy boom, the United States became a net exporter of crude oil and petroleum products and will likely remain a net exporter for all of 2020 for the first time since 1949. Much of America’s energy boom during Trump’s tenure can be attributed to his stated strategy of “energy dominance.” The White House’s Council of Economic Advisors (CEA) 2020 report found that in 2017 the United States became a net exporter of natural gas. The president’s policy positions, as such, have been geared toward expanding oil drilling and natural gas exploitation as a means to boost the country’s economy, save Americans money through lower energy prices, and increase America’s national security through reduced dependence on foreign oil. The Trump administration has championed the responsible cultivation of America’s plentiful energy resources, including oil and natural gas. Compare Standard and Premium Digital here.Īny changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel.The following is an excerpt from 50 Things They Don’t Want You to Know About Trump, the new book by Breitbart News Entertainment Editor Jerome Hudson.ĥ0 Things They Don’t Want You to Know About Trump is available for purchase here. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs. If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.įor cost savings, you can change your plan at any time online in the “Settings & Account” section. For a full comparison of Standard and Premium Digital, click here.Ĭhange the plan you will roll onto at any time during your trial by visiting the “Settings & Account” section. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Standard Digital includes access to a wealth of global news, analysis and expert opinion. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages.
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