U.S. shouldn't bail out Europe with natural gas, Dow Chemical says

|About: Dow Chemical Co. (DOW)|By:, SA News Editor

As U.S. lawmakers consider allowing more liquefied natural gas exports to help reduce Europe's dependency on Russia as an energy provider, Dow Chemical (DOW) says too bad; if Europe wants to reduce its need for Russian natural gas, it can - and should - produce the gas on its own.

"Europe has the resources and the capability to provide for its own energy needs," says a top DOW exec. "Just because they rejected nuclear energy and horizontal drilling and left themselves at the mercy of others shouldn’t create an obligation for us to bail them out."

Chemical companies and many manufacturers oppose the rush for more LNG exports, having benefited from cheap natural gas prices since the fuel is a key ingredient for petrochemicals used in making plastics and other components of manufacturing.