Tuesday, April 29, 2014

Is Cove Point. Maryland the next Keystone type Controversy?

A liquefied natural gas facility in southern Maryland is generating intense criticism from environmental groups, in a fight that echoes the protracted battle over the proposed Keystone XL pipeline. 
Energy company Dominion Resources is hoping to invest up to $3.8 billion to upgrade the Cove Point LNG facility as an export terminal.
If successful, it could become the East Coast's chief LNG export facility, sending billions of cubic feet of natural gas to Japan, India, and elsewhere. 
Dominion stresses that the project would have a huge economic impact close to home as well.
"The local area of Calvert County gets a huge benefit: $40 million dollars in additional taxes, property taxes, and the whole area of Maryland gets a benefit as well ... not to mention the U.S., from an export perspective," Mike Frederick, Dominion's VP of liquefied natural gas operations, told Fox News in an interview.
The Department of Energy has given Dominion conditional permission to export gas. The company is awaiting an environmental assessment from the Federal Energy Regulatory Commission (FERC), due May 15.  
As with the proposed Canada-to-Texas Keystone oil pipeline, organized labor is on board with the LNG project, wanting the roughly 3,000 jobs it is projected to create during construction.
Read the rest of the story HERE and view a related video below:



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