Report Says Natural Gas Will Bring Major Cost Savings to Hawaii
UPDATED 1/7/2013 10:30 a.m.
Importing liquefied natural gas to Hawaii could provide residents with “huge” savings over oil, according to a recently released University of Hawaii study designed to help chart a path for importing the fuel.
On Oahu, the cost of natural gas could be about half that of oil through 2030, according to the report conducted by Honolulu-based FACTS Global Energy. On the neighbor islands, savings could also be significant, ranging from 22 percent to 44 percent.
The study was conducted for the Hawaii Natural Energy Institute. John Cole, a specialist at HNEI, said the study was competitively bid with one other company, New York-based NERA Economic Consulting, submitting a proposal. FACTS Global Energy was paid about $150,000 for the study, according to Cole.
Environmental groups, who are increasingly opposed to importing LNG to Hawaii, immediately raised questions about the impartiality of the study.