The new energy law that has attracted the attention of the American chemical industry has finally been implemented. On August 8, US President Bush signed the 2005 Energy Policy Act at Sandia National Laboratory in New Mexico to formally become law.
According to the new energy law, energy diversification will become an inevitable choice. To this end, the United States will encourage the development and application of a series of new technologies to increase electricity, including coal gasification, renewable energy, and nuclear power. It will also renovate the relevant energy infrastructure, increase investments in natural gas pipelines and storage facilities, and build multiple sets of liquefied natural gas. (LNG) terminal.
For the chemical industry in the United States, the high price of natural gas has always been a big problem. Over the past five years, the energy costs of the American chemical industry have increased by 27 billion U.S. dollars, and as the price of natural gas has soared, the competitiveness of the chemical industry has declined and the amount of business lost has reached 50 billion U.S. dollars. At present, the price of natural gas in the United States is higher than US$8.5 per million thermal value units, which is almost four times higher than the price five years ago.
The U.S. Senate and the House of Representatives passed a long-term energy bill of more than 1,700 pages after a long-term bargaining at the end of July. The main contents of the bill include the tax cuts and subsidies for traditional energy companies and nuclear companies worth US$14.5 billion in the next 10 years to encourage To increase energy production, tax cuts for oil and gas companies, power companies, and coal companies amount to 9 billion U.S. dollars. In addition, subsidies for energy efficiency and renewable energy projects increase by about 5 billion U.S. dollars. The bill also includes incentives for efficient energy use and expansion of renewable energy plans, as well as encouraging the production of gasoline and other gasoline additives.
ACC (American Chemical Industry Association) said that the chemical industry has the deepest sense for the efficient use of natural gas. Compared with more than 20 years ago, the production of the same quantity of products, the American chemical company's energy costs are only half of the original. With the implementation of the new energy law, the United States will increasingly pay attention to the efficient use of energy, and new standards will be implemented in areas such as industrial production and construction.
With regard to the implementation of the new energy law, ACC regrets that while there is an increase in natural gas supply in the United States, the new bill does not lift the ban on offshore natural gas extraction and it is still difficult for the chemical industry to get rid of high-priced natural gas in the short term.
According to the new energy law, energy diversification will become an inevitable choice. To this end, the United States will encourage the development and application of a series of new technologies to increase electricity, including coal gasification, renewable energy, and nuclear power. It will also renovate the relevant energy infrastructure, increase investments in natural gas pipelines and storage facilities, and build multiple sets of liquefied natural gas. (LNG) terminal.
For the chemical industry in the United States, the high price of natural gas has always been a big problem. Over the past five years, the energy costs of the American chemical industry have increased by 27 billion U.S. dollars, and as the price of natural gas has soared, the competitiveness of the chemical industry has declined and the amount of business lost has reached 50 billion U.S. dollars. At present, the price of natural gas in the United States is higher than US$8.5 per million thermal value units, which is almost four times higher than the price five years ago.
The U.S. Senate and the House of Representatives passed a long-term energy bill of more than 1,700 pages after a long-term bargaining at the end of July. The main contents of the bill include the tax cuts and subsidies for traditional energy companies and nuclear companies worth US$14.5 billion in the next 10 years to encourage To increase energy production, tax cuts for oil and gas companies, power companies, and coal companies amount to 9 billion U.S. dollars. In addition, subsidies for energy efficiency and renewable energy projects increase by about 5 billion U.S. dollars. The bill also includes incentives for efficient energy use and expansion of renewable energy plans, as well as encouraging the production of gasoline and other gasoline additives.
ACC (American Chemical Industry Association) said that the chemical industry has the deepest sense for the efficient use of natural gas. Compared with more than 20 years ago, the production of the same quantity of products, the American chemical company's energy costs are only half of the original. With the implementation of the new energy law, the United States will increasingly pay attention to the efficient use of energy, and new standards will be implemented in areas such as industrial production and construction.
With regard to the implementation of the new energy law, ACC regrets that while there is an increase in natural gas supply in the United States, the new bill does not lift the ban on offshore natural gas extraction and it is still difficult for the chemical industry to get rid of high-priced natural gas in the short term.
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