The administration’s irresponsible decision to “pause” new liquefied-natural-gas export permits was a gift to Putin and a blow to our allies, and it damaged the reputation of the U.S. as a reliable energy supplier and ally. The principal winners from this pause were Putin (both economically and geopolitically) and other LNG suppliers such as Qatar, which will simply step up production to meet demand. The climate effect of a perpetual pause will be zero.
LNG Prime (June 27. 2024):
The US FERC has given the green light to Venture Global LNG for its proposed CP2 LNG project in Louisiana.
In a 2-1 decision, FERC commissioners approved the project and the pipeline during a meeting on June 21 with commissioner Clements dissenting.
The regulator issued a final environmental impact statement for the CP2 LNG project, Venture Global’s third LNG export terminal, in July last year. . . .
Besides the FERC approval, CP2 LNG also needs the non-FTA export authorization from the US Department of Energy.
However, the Biden administration said in January it will “temporary pause” pending decisions for LNG export terminals.
Last night, the president’s unfortunate performance in the debate against Donald Trump left a dangerous impression of U.S. weakness that must have delighted America’s enemies, appalled its friends, and made those on the fence edge a little closer to Moscow and Beijing.
Ending the pause would help push back a little against that perception, and, oh yes, it would be good for the economy and create those “good-paying” jobs the president likes to talk about.