“America is using more and more natural gas and producing less and less. US chemical industry domestic operations lost $50 billion in business to overseas operations since 2000. We went from posting trade surpluses in excess of $20 billion – the most successful export industry in the history of this nation – to becoming a net importer of chemicals. More than 100,000 American jobs have been displaced.
“Not long ago, Business Week noted that of the 120 large-scale chemical plants under construction around the globe, only one is being built in the United States. The plants under construction are located in places where natural gas supply is abundant, reliable and affordable.”
Source: Mr. Andrew Liveris, President and CEO of Dow Chemical
Prepared testimony at today’s Energy Committee hearing