Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Dow Chemical: DOE Report on LNG Exports Short Changes Manufacturing and U.S. Competitiveness



  Dow Chemical: DOE Report on LNG Exports Short Changes Manufacturing and U.S.
  Competitiveness

Business Wire

MIDLAND, Mich. -- December 06, 2012

The Dow Chemical Company (NYSE: DOW) today issued the following statement:

“The report issued by the DOE on liquefied natural gas (LNG) exports is
flawed, misleading, and based on outdated, inaccurate and incomplete economic
data,” stated Andrew N. Liveris, Dow’s chairman and chief executive
officer. “The report fails to give due consideration to the importance of
manufacturing to the U.S. economy. Manufacturing is the largest user of
natural gas in the U.S., and creates more jobs and more value to the U.S.
economy from natural gas than any other sector. The value of every unit of
energy used by the manufacturing sector is multiplied by as many as 20 times
from the production of thousands of high value products though the value
chain. Compare this to the 1-time value created by exporting energy as
liquefied natural gas. Furthermore, for every manufacturing job created on the
factory floor 5-8 more are created in the larger economy.”

“The report also fails to consider the tremendous competitive advantage that
affordable, abundant domestic natural gas offers to the nation. Instead, the
report offers the baffling conclusion that the U.S. would be better off using
its domestic natural gas advantage to fuel growth and jobs in other regions
versus strengthening the U.S. economy through manufacturing and benefiting
consumers with lower energy costs.”

In addition, Liveris stated, “Industry has announced over 100 capital
investments representing over $90 billion in spending and millions of new jobs
predicated on abundant and affordable natural gas, none of which were captured
in this report. Unfortunately, policy makers have been given a flawed report
that overlooks vital dynamics, including a manufacturing renaissance that is
already underway and much needed by this country.”

About Dow

Dow (NYSE: DOW) combines the power of science and technology to passionately
innovate what is essential to human progress. The Company connects chemistry
and innovation with the principles of sustainability to help address many of
the world's most challenging problems such as the need for clean water,
renewable energy generation and conservation, and increasing agricultural
productivity. Dow's diversified industry-leading portfolio of specialty
chemical, advanced materials, agrosciences and plastics businesses delivers a
broad range of technology-based products and solutions to customers in
approximately 160 countries and in high growth sectors such as electronics,
water, energy, coatings and agriculture. In 2011, Dow had annual sales of $60
billion and employed approximately 52,000 people worldwide. The Company's more
than 5,000 products are manufactured at 197 sites in 36 countries across the
globe. References to "Dow" or the "Company" mean The Dow Chemical Company and
its consolidated subsidiaries unless otherwise expressly noted. More
information about Dow can be found at www.dow.com.

Contact:

The Dow Chemical Company
Nancy Lamb, 989.638.7251
nelamb@dow.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement