2/2

© Reuters. FILE PHOTO: Model of LNG tanker is seen in front of the U.S. flag in this illustration taken May 19, 2022. REUTERS/Dado Ruvic/Illustration

2/2

WASHINGTON (Reuters) – Dozens of former officials from the past two Republican U.S. administrations on Monday urged Congress to reverse the Biden administration’s pause on approvals of liquefied (LNG) exports, saying the shipments promote global stability.

President Joe Biden, a Democrat, paused approvals of exports of pending and future LNG projects to big markets in Asia and Europe late last month in order to review the environmental and economic impacts of the booming business. Biden acted after pressure from environmentalists concerned about greenhouse gas emissions during the lifecycle of the LNG industry and pollution from LNG plants near vulnerable communities.

The 35 officials, including Rick Perry and Dan Brouillette, energy secretaries under former President Donald Trump, wrote to lawmakers heading energy and foreign affairs committees in the House of Representatives and the Senate.

“It is imperative that we reverse this action and continue to advance our economic, energy, and geopolitical interests while leading on environmental progress,” the former officials said in the letter.

U.S. LNG exports to Europe rose after Russia invaded Ukraine in 2022. U.S, and they are expected to double by the end of the decade on exports already approved.

The U.S. House is set to vote on a bill as early as Wednesday that would strip the power of the Department of Energy to approve the exports and give it to the independent Federal Energy Regulatory Commission.

The legislation would likely struggle in the Senate, controlled by Democrats, and some lawmakers have been wary of it. Senator Joe Manchin, a Democrat who opposes the pause, told reporters last week he is not looking at “taking anyone’s authority away.”

The letter was also sent to Biden administration officials.

Deputy Energy Secretary David Turk told reporters last week that as the administration talks with allies and partners about the pause, “we feel very comfortable” about their gas supply going forward.

Read the full article here

Share.

Leave A Reply

Your road to financial

freedom starts here

With our platform as your starting point, you can confidently navigate the path to financial independence and embrace a brighter future.

Registered address:

First Floor, SVG Teachers Credit Union Uptown Building, Kingstown, St. Vincent and the Grenadines

CFDs are complex instruments and have a high risk of loss due to leverage and are not recommended for the general public. Before trading, consider your level of experience, relevant knowledge, and investment objectives and seek financial advice. Vittaverse does not accept clients from OFAC sanctioned jurisdictions. Also, read our legal documents and make sure you fully understand the risks involved before making any trading decision