The Biden administration released its long-awaited review of liquefied natural gas (LNG) exports on Tuesday, with findings that could complicate President-elect Trump's plans to unleash the U.S. energy industry. [emphasis, links added]
The Department of Energy (DOE) released the study nearly a year after the administration announced in January that it would suspend approval of new export capacity to non-FTA countries to conduct a new assessment of whether additional exports are in the public interest.
While the report does not call for a blanket ban on new export approvals, It suggests increased exports will push up domestic prices, increase emissions and potentially help ChinaThe conclusion is OK Projects approved by incoming Trump team may face legal loopholesAccording to Bloomberg.
“The main takeaway is that a business-as-usual approach is neither sustainable nor desirable,” Energy Secretary Jennifer Granholm told reporters on Tuesday. “American consumers, communities and our climate will pay the price.”
Trump has pledged to end the export approval freeze as soon as he takes office in January 2025 as part of a broader “energy dominance” agendaThe plan is aimed at untying U.S. energy producers, driving down domestic prices and bolstering U.S. economic power on the global stage.
It could take up to a year for the Trump administration to release an analysis, with Bloomberg News reporting on Tuesday that “the findings show Additional exports would do more harm than good and could leave new approval documents issued by the Trump administration vulnerable to legal challenges.“
Rep. Kathy McMorris Rodgers, R-Wash., blasted the study in a statement Tuesday as “clearly designed to solidify Joe Biden's green agenda” and claimed the entire LNG moratorium was a political choice meant to appease Hardline environmentalist interests.
Notably, S&P Global released an analysis of the LNG market on Tuesday, finding Increased U.S. LNG exports are unlikely to have any “significant impact” on domestic natural gas prices, contradicting a key assertion of a new U.S. Department of Energy study.
Biden administration members reportedly influenced by Cornell professor Dubious 2023 study claims gas exports have worse environmental impact than domestically mined coalofficials reportedly also Before announcing the pause, met a 25-year-old TikTok influencer who led an online campaign against LNG exports January 2024.
“It is time to lift the moratorium on new LNG export licenses and restore U.S. leadership in global energy,” Mike Summers, president and CEO of the American Petroleum Institute, said of the new U.S. Department of Energy report.
“After nearly a year of politically motivated moratoriums that will only weaken global energy security, It’s clear that U.S. LNG is critical to meeting the growing demand for affordable, reliable energy while supporting our allies overseas.“
Anne Bradbury, CEO of the U.S. Exploration and Production Council, also addressed the DOE report in a statement, making recommendations to the public. Skeptical of the Biden administration's use of natural gas exports to play politics.
Read the break from The Daily Caller
