Quite simply, energy is big business for small business.
Looking ahead, the opportunity exists for exporting LNG, given the differential in natural gas prices in the U.S. versus elsewhere in the world, and rising global demand.
Expanded demand for U.S. natural gas in international markets will result in greater U.S. natural gas production, with increased investment, gross domestic product growth, rising incomes, small-business expansion and more jobs being among the benefits.
As the administration and Congress explore the issue of whether to expand, LNG exports guided by market forces mean further expanding opportunity for small and midsize businesses to be created, to grow and to create jobs.
Raymond J. Keating is chief economist for the Small Business & Entrepreneurship Council. He is the author of a new report titled “The Benefits of Natural Gas Production and Exports for U.S. Small Businesses.”
Leaders from military and veterans service organizations joined Sens. Roger Wicker, R-Miss., Kelly Ayotte , R-N.H., and Lindsey Graham, R-S.C., at a press conference to urge the Senate to replace a provision in the budget proposal that cuts retirement benefits for veterans. Wicker, Ayotee, and Graham earlier called for a bipartisan solution to replace the $6.3 billion in cuts to military retiree benefits.
Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year's report, derived from forms covering the calendar year 2012, shows it took a net worth of $6.67 million to crack the exclusive club.