Snappy title OilFieldAce. Hope you don't mind that I've borrowed it more than once.
From a White House press release today:
FACT SHEET: Biden-Harris Administration Announces Temporary Pause on Pending Approvals of Liquefied Natural Gas Exports
....Today, the Biden-Harris Administration is announcing a temporary pause on pending decisions on exports of Liquefied Natural Gas (LNG) to non-FTA countries until the Department of Energy can update the underlying analyses for authorizations.
....As Republicans in Congress continue to deny the very existence of climate change while attempting to strip their constituents of the economic, environmental and health benefits of the President’s historic climate investments, the Biden-Harris Administration will continue to lead the way in ambitious climate action while ensuring the American economy remains the envy of the world.
https://www.whitehouse.gov/briefing-...authorizations.
More lunacy from the political class. The USA emitted 6 billion metric tons of CO2 in 2007. In 2022, that number was 4.9 billion tonnes, down almost 20%. This was even though during the same time period, U.S. real (inflation adjusted) GDP was up 30%.
Now was that because of renewable energy? Well, partly. But natural gas played a much larger part. We've substituted a lot of clean burning natural gas for coal in power generation over the last 15 years. Natural gas emits a lot less CO2 per kilowatt hour than coal.
Furthermore, American LNG has substituted for Russian gas production in Europe. Without our LNG, Russia would be in a stronger position in Ukraine. In the winter of 2022 and 2023, Europe had to re-start coal fired power capacity to stay warm. Coal that, again, generates more CO2 than natural gas.
U.S. natural gas production provides jobs and income in our country and contributes to our energy security. If we don't sell the LNG, other countries will instead buy more coal, and other countries like Qatar and Russia will sell more LNG and natural gas. That will be the effect of preventing the construction of more LNG plants.
Finally, why should this be the decision of the federal government anyway? If Texas and Louisiana want to stop construction of new LNG plants, then I believe they should be able to do that. But they don't.
To be fair, the Biden Administration may just be using this as a sop to environmentalists and allow new plants to proceed after the election assuming Biden wins. Hard to say though, as the EPA and other federal agencies have been slow walking LNG approvals since Biden was elected. And yes, improving regulations to cut back on methane emissions from production and processing of natural gas makes sense. Still this move by Biden is concerning, to say the least.