Shift Key with Robinson Meyer and Jesse Jenkins
The Messy Truth of America’s Natural Gas Exports
Feb 7, 2024
President Biden's temporary halt on approving new LNG export terminals is explored, including its implications for climate change and carbon emissions. The potential increase in US LNG export capacity and the controversies surrounding natural gas exports are discussed. The trade-offs of US LNG exports are analyzed, including impacts on the energy system, consumers, and the global power sector. The influence of cheap natural gas and electricity on the US macroeconomy is examined, as well as the need for careful consideration in exporting natural gas. The growth of hybrid and electric vehicles is also highlighted.
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Quick takeaways
- The pause on new approvals for LNG export terminals by President Biden is a victory for climate activists but raises questions about the long-term contribution of the U.S. to the global energy supply.
- The rapid growth of LNG exports from the U.S., along with plans for more terminals, raises concerns about the long-term impact on the U.S. economy, domestic natural gas prices, and the global energy supply mix.
Deep dives
The Impact of Pausing LNG Approvals on Climate Activists
The president's decision to pause new approvals for liquefied natural gas (LNG) export terminals was seen as a victory by climate activists. However, the policy discussion around this decision is complicated, as it's not clear which terminals are affected and what the scale of the existing LNG export infrastructure is. Existing terminals consume about 10% of U.S. natural gas production, and there are plans for more terminals that could double the current capacity. The decision to pause approvals aims to evaluate the environmental impact and public interest of expanding LNG exports. This pause raises questions about the long-term contribution of the U.S. to the global energy supply and the demand for LNG in the face of climate change.
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