LNG Permit Pause Will Slow Production, Raise Domestic Prices
Restricting U.S. LNG Will Lead to Higher Global Emissions
HOUSTON – The Biden Administration’s announcement of a pause on LNG export permit approvals to non-Free Trade Agreement nations is yet another damaging blow to domestic energy production, following in the footsteps of the host of restrictions imposed on Gulf of Mexico energy development, Consumer Energy Alliance (CEA) President David Holt said.
“We’ve seen this movie before with the Administration’s all-out efforts to stop Gulf of Mexico offshore leasing that included defying Congress to hamper America’s ability to produce its own energy. Timing is everything, and there is clearly a calculation that the impacts of this decision and the offshore leasing restrictions will not land on Americans before the election.”
“But the global impact will be felt immediately, as America’s ability to export a cleaner fuel to displace higher-emitting ones is curtailed. Worse, this signals that America’s support for allies, at a time of global turmoil and risk, is subject to the whims of social media influencers and anti-business activists who have a mission to demonize natural gas and oil without offering meaningful proposals to meet our energy needs.”
“When Russia invaded Ukraine and weaponized its natural gas exports by shutting out Europe, U.S. industry stepped up and delivered record levels of LNG to our allies. That was American commerce in action, serving national security, diplomatic and economic purposes for which the Administration took credit.”
“Despite those record exports and claims that domestic natural gas prices would shoot up, natural gas stayed largely flat is now trending below the 10-year average price. However, families and small businesses will eventually pay the bill for this short-sighted, irresponsible decision when it slows production, causing prices and global emissions to rise.”
About Consumer Energy Alliance
Consumer Energy Alliance (CEA) is the leading voice for sensible energy and environmental policies for consumers, bringing together families, farmers, small businesses, distributors, producers, and manufacturers to support America’s environmentally sustainable energy future. With more than 550,000 members nationwide, we are committed to leading the nation’s dialogue around energy, its critical role in the economy, and how it supports the vital supply chains for the families and businesses that depend on them. CEA works daily to encourage communities across the nation to seek sensible, realistic, and environmentally responsible solutions to meet our nation’s energy needs.