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.”
Vice President Joe Biden waits to conduct a mock swearing-in ceremony with Sen. Brian Schatz, D-Hawaii, in the Capitol's Old Senate Chamber, December 2, 2014. Schatz was sworn in to serve the remainder of his term since he was appointed to the seat after Sen. Daniel Inouye, D-Hawaii, passed away.