LNG facility a boon to this county

Increasing access to natural gas supplies is critical to the success of the business community and the economic health of our households here in Ventura County. The construction of a liquefied natural gas facility off our local shores will keep utility costs in check, maintain and enhance employment opportunities for our residents and provide a continuous revenue stream that will help us grow and sustain a vibrant community.
According to a study by the National Petroleum Council, American families and businesses will overpay more than $1 trillion for energy costs unless immediate action is taken to expand the supply of natural gas in our economy. How can we avoid this? By increasing direct access to existing, underutilized sources of LNG.


California is vulnerable to the economic risks from high energy prices because more than a third of our electricity is dependent on natural gas. Instead of importing the gas directly from its source, we bring it in through a pipeline infrastructure originating from as far away as Canada. Several other states have dibs on this supply, forcing California to pay more to meet its energy needs.
As supplies dwindle, our share decreases and prices rise, and that makes us ripe for repeating the mistakes of the 2000-01 energy crisis.
Already, a recent survey conducted by the Oxnard Chamber of Commerce indicates more than 50 percent of Oxnard businesses are extremely concerned about energy supplies in California and almost 90 percent believe California doesn't have an adequate supply to meet our needs.
They have legitimate cause for concern. In 2005, some California businesses saw their natural gas rates double or even triple. In that scenario, businesses are left with only three choices: They can cut salaries and jobs, they can raise prices for consumers or they can do both. None of these choices is good for our local economy, especially when coupled with increased household utility costs.
By contrast, the proposal to build a LNG facility off our coast will lead to increased access and stabilized prices for all Californians, and it will bring additional, direct economic benefits to local businesses and residents without any taxpayer or public subsidy.
Specifically, the proposed facility, Cabrillo Port, will import natural gas by ship from Australia to California. This project alone could meet up to 13 percent of our state's immediate natural gas needs.
To put that into economic terms, a recent economic study by Phil Romero at the University of Oregon projected that by increasing natural gas supplies and reducing prices by just 10 percent, California could see more than 55,000 new jobs and household income increase by more than $200 a year. State revenue could grow by as much as $306 million.
The direct impact on our local community is equally significant. Cabrillo Port is projected to bring millions of dollars annually to Oxnard and Ventura County. Also, BHP Billiton — the project's sponsor — has made it company policy to invest at least 1 percent of its annual project returns back into the local communities where it operates. In addition, hundreds of jobs will be created during construction and throughout the facility's operation.
If we're to prevent another energy crisis, we need a new energy infrastructure. Renewables and conservation, if implemented in a way that does not unfairly burden the taxpayer, can play a part, but alone those measures cannot address the magnitude of California's energy challenges.
Cabrillo Port offers the chance to prevent another crisis while providing an economic and taxpayer advantage for the citizens of Oxnard and Ventura County.
— Nancy Lindholm is president and chief executive officer of the Oxnard Chamber of Commerce. Don Facciano is president of the Ventura County Taxpayers Association.