Biden's Ban On American LNG Profits Capitalists In Russia And Undermines EuropeReader01/30/2024 (Tue) 10:34 Id: 6d52d1No.22026del
Biden's Ban On American LNG Profits Capitalists In Russia And Undermines Europe
The Biden regime's decision to delay the approval of new liquefied natural gas (LNG) terminals in the United States may have marked a major victory for environmental advocacy groups in both the US and Europe (while effectively punishing Texas - the world's 3rd largest LNG exporter, for defending the southern border), it was a terrible move for Western interests.
Energy experts are saying that the move benefits America's enemies and harms the country's allies.
The Wall Street Journal editorial board called it "an election-year gift to Russia and Iran."
US LNG exports have increased by about 31 billion cubic feet per month (8.7%) since January 2022, which has helped Europe wean itself off Russian energy and reduced global gas prices. If not for U.S. LNG, political support in Europe for Ukraine might have flagged as its citizens shivered.
"There is no review needed to understand the clear benefits of U.S. LNG for stabilizing global energy markets, supporting thousands of American jobs, and reducing emissions around the world by transitioning countries toward cleaner fuels," American Petroleum Institute (API) CEO Mike Sommers said in a statement, adding "This is nothing more than a broken promise to US allies, and it’s time for the administration to stop playing politics with global energy security."
Question to the Democrats who support this: Why is Biden supporting Putin by actively hurting our NATO allies?
The vast majority of US LNG exports currently go to Europe. We did this in response to Putin's war in Ukraine to help Europe wean itself off of Russian natural gas.
What's more, following Russia's invasion of Ukraine, Europe turned to the United States in its quest to reduce its dependence on Moscow - resulting in a 141% increase in 2022 exports of US LNG over the previous year, and increased modestly in 2023, according to research firm Kpler. Thanks to a combination of those imports and mild winters, Europe has been able to avert winter shortages.