Commentary
The recent Arctic blast was great for natural gas demand, but last Friday it shocked me that the Biden administration halted approval for new licenses to export liquified natural gas (LNG) due to concerns about climate change and national security. Specifically, President Joe Biden said, “We will take a hard look at the impacts of LNG exports on energy costs, America’s energy security, and our environment. This pause on new LNG approvals sees the climate crisis for what it is: the existential threat of our time.”
Ironically, environmental advocates urgently want developing nations to stop using coal and are urging Europe to power its economy without using Russian natural gas. So far, so good: this opens up huge markets for U.S. LNG. But these same environmentalists refuse to build the infrastructure required to ship LNG. That ensures our natural gas will be wasted (burned off) for generations to come. I can only say that “it’s hard to fix stupid.” Stopping the expansion of LNG exports will just result in wasting our natural gas. In my opinion, some zealots in the Biden administration are so stupid they need to be put out to pasture….
