In today’s Wall Street Journal former Democratic Senator from Louisiana Bennett Johnston penned an op-ed about his past experience with natural gas regulation while he served in the Senate.
In his piece former Senator Johnston discusses the previous attempts by Congress to regulate and then deregulate natural gas. He concludes that from his own experience it is better to allowing the free market to work. Here is an excerpt from the piece:
The free market might not always lead to everyone’s definition of the sweet spot, but experience has shown that it is a better allocator and regulator than bureaucrats and politicians. We should heed the admonition of Adam Smith that demand begets supply: Allow the free market to allocate the nation’s newfound energy bounty.
The abundance of natural gas is helping manufacturers become more competitive by lowering energy costs. A study by PwC and the NAM concluded that the natural gas revolution can create 1 million manufacturing jobs by 2025.