She told the senate foreign relations committee in Washington DC that Republican proposals to cut US foreign affairs budget would hit US efforts to compete with China’s rising power on the global stage, Reuters news service reported.
“We are in a competition with
“ExxonMobil is producing it.
The committee heard that ExxonMobil was the majority stakeholder in the PNG LNG project, now in full construction stage, which was due to come on stream in 2014 and was expected to produce 6.6 million tonnes of liquefied natural gas a year.
When she visited
She urged PNG not to go down that path but learn to use and invest the revenue from the LNG project in long term investments.
The US-based Export-Import Bank in 2009 approved the largest financing transaction in its history to help develop the PNG gas reserves.
According to Reuters,
“If anybody thinks that our retreating on these issues is somehow going to be irrelevant to the maintenance of our leadership in a world where we are competing with
Republicans have proposed a 16% cut to US spending on diplomacy and foreign assistance, among other things, saying it was imperative to fight the ballooning federal deficit.
“Let’s put aside the moral, humanitarian do-good side of what we believe in and let’s just talk straight realpolitik,” she said of the various
“I also look at this from a strategic perspective, and it is essential.”