The Biden administration released a report highlighting the potential environmental and economic risks associated with increased exports of liquefied natural gas (LNG).
Almost a year after pausing new permits on LNG export terminals, the Biden administration released a report Tuesday warning of serious environmental and economic risks to increasing exports of the commodity. It cautioned that allowing LNG exports to increase could not only increase greenhouse gas emissions in the long run, imperiling efforts to address climate change , but could also drive up domestic natural gas prices on households and industries like steel and chemical plants.
Energy Secretary Jennifer Granholm said in a statement, 'A business as-usual approach is neither sustainable nor advisable.' The administration said it was still evaluating whether to lift the pause on permitting, something President-elect Donald Trump has vowed to do once he takes office next year. The holdup in permitting over the past 12 months has caused trepidation along Texas's Gulf Coast, the epicenter of an LNG boom that has resulted in billions of dollars in investment over the past decade. LNG companies quickly pushed back against the findings Tuesday. 'Study after study, by Republican and Democratic administrations as well as independent researchers, have continually found that U.S. LNG exports provide economic, national security, and climate benefits and serve the public interest,' the Natural Gas Supply Association said in a statement
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