(Reuters) – America should be producing and exporting more natural gas, EQT Corp (NYSE) stated in response to U.S. Recent criticisms by Senator Elizabeth Warren of the Energy Sector for its spiralling gas prices have been made.

Toby Rice, Chief Executive of LNG Exports said Tuesday that LNG could be the largest green initiative in the world. It can replace dirty fuels such as coal.

Senator Warren wrote to eleven of America’s major gas producers last month asking for explanations on their decision to sell record amounts of heating fuel while increasing prices to consumers struggling to make their payments.

The energy demands have risen faster than the supply this year due to stockpiling and pre-pandemic activities in Asia and Europe.

Warren wrote a letter to companies that included EQT Exxon Mobil ConocoPhillips, Occidental Petroleum and NYSE: expressed concerns about the price rises and were accused of corporate greed and profiteering.

Rice, the CEO of EQT said Rice was misinformed and that her concerns were unfounded. He explained that because of the shale oil boom and companies like EQT, the U.S. continues to reap the benefits of some of lower natural gas prices.

He stated that the average natural gas price for 2021 was significantly lower than its 20-year average, which is $5.70 per million cubic feet.

While natural gas prices are up rapidly in relation to 2020, they were still the lowest natural gas prices since over 20 years.

Warren stated that the oil producers put their huge profits, share price and dividends, as well as millions of dollars in bonuses and CEO salaries, ahead of American consumers.

As years of price increases have led to a decrease in supply, Shale producers were forced to invest their profits instead into shares and dividends.