American Chemistry Council hails Natural Gas Price Reduction Act of 2005

April 26, 2005

The introduction of natural gas price reduction legislation by Senators Lamar Alexander (R-TN) and Tim Johnson (D-SD) has been hailed by the American Chemistry Council (ACC)  and its members as a welcomed step toward solving the nation's growing energy crisis.  ACC encouraged the U.S. Senate to address the bill with all dispatch.

Two representatives of chemical manufacturers appeared today Senator Alexander at the bill's unveiling and commented on the importance of the legislation. "Natural gas in the U.S. is 10 times as costly as some other regions and is the most costly in the world," said James Ray, executive vice president of Eastman Chemical Company's (EMN) Texas Division.

"We have offshore competitors who can produce some of the same products we make here in Tennessee, ship them to the U.S. and deliver them to a customer's loading docks for less than what it costs us to produce them here," said Bob Hardie, plant manager of DuPont's New Johnsonville, TN facility.

ACC CEO and President Thomas Reilly said "This bill is refreshing and promising and it represents a bipartisan effort which is balanced and thoughtful. The bill recognizes the enormity of the nation's natural gas crisis for all consumers and provides the keys to bringing the problem under control. It will make the nation more self reliant. And in today's world that is welcome news indeed." said CEO and President, American Chemistry Council.

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