Chemical Chief Available to Comment on Greenspan Testimony on Natural Gas Crisis; ACC Greg Lebedev and the 'Other Energy Crisis' 6/9/2003
From: Chris VandenHeuvel of the American Chemistry Council, 703-741-5587 News Advisory: In the wake of Tuesday's Federal Reserve Chairman Alan Greenspan's testimony before the House Energy and Commerce Committee on the natural gas crisis, American Chemistry Council President and CEO Greg Lebedev is available for media interviews on the impact of the "other energy crisis" on America's chemical makers, the nation's largest industrial users of natural gas. Greenspan two weeks ago told the Joint Economic Committee that "I'm quite surprised at how little attention the natural gas problem has been getting because it is a very serious problem," and added "this is an issue we have not addressed, and we have, honestly, contradictory federal policy." The U.S. currently has a 19-day supply of natural gas, and the nation's inventories are 28 percent below the five-year average. Some analysts are raising the specter of the winter of 1977 when shortages of natural gas led to rationing and school closings. Runaway natural gas prices already have caused chemical plants to close and are placing 250,000 high paying manufacturing jobs at risk. American chemical makers use natural gas for power and also convert it into thousands of commercial products, including life-saving medicines, consumer electronics and plastics. ACC's Lebedev has said the current bills do not adequately address the crisis that is devastating natural gas customers and that the American Chemistry Council cannot support a bill that does not adequately address the natural gas supply-demand problem. Contact Chris VandenHeuvel at 703-741-5587 to set up interviews. The American Chemistry Council (ACC) represents the leading companies engaged in the business of chemistry. ACC members apply the science of chemistry to make innovative products and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health and safety performance through Responsible Care, common sense advocacy designed to address major public policy issues, and health and environmental research and product testing. The business of chemistry is a $460 billion enterprise and a key element of the nation's economy. It is the nation's largest exporter, accounting for ten cents out of every dollar in U.S. exports. Chemistry companies invest more in research and development than any other business sector. Safety and security have always been primary concerns of ACC members, and they have intensified their efforts, working closely with government agencies to improve security and to defend against any threat to the nation's critical infrastructure. Web: http://www.accnewsmedia.com |