As we reported, the Biden Energy Department paused permits to export LNG to countries with which the US does not have free trade agreements. It’s a horrendous idea. The U.S. must export to them if it is in the “public interest.”
Never in our history has the department rejected a permit. But now the Administration plans to reject permits. To make it happen, they are changing the definition of “public interest” to include the potential impact on the climate. They use climate to rule over us.
Progressives are celebrating, writes The Wall Street Journal.
“The Biden administration is listening to the calls to break America’s reliance on dirty fossil fuels,” Sierra Club executive director Ben Jealous proclaimed. “It’s undeniable that LNG export projects are simply not in the public interest, and we are confident that if this review is done right, that would end the rubber-stamping of these projects.” Got that, Mr. President?”
The White House says the pause will only affect a handful of projects. That is not true, and they know it. It will also freeze about half a dozen projects seeking Federal Energy Regulatory Commission approvals. It could halt another dozen or so that were approved by previous Presidents.
This is because, in December, the Energy Department changed the rules and demanded that projects in effect for more than seven years reapply and be reauthorized.
No matter how much these companies have invested based on a promise by the US government, they could be canceled.
As we have said in the past, they are doing everything imaginable to discourage investments in fossil fuels. They will especially discourage foreign governments from signing long-term contracts.
The companies will go with reliable terror-tied nations like Qatar.
That’s what some are already doing.
From the The Wall Street Journal:
Japanese trading house Mitsui & Co is considering buying a stake in a major Qatar expansion project to ensure stable LNG supply, according to a Reuters report last autumn. Japan’s largest power generator is in talks with Qatar for a long-term supply contract. These are hedges against unreliable U.S. energy policy.
According to the WSJ, this represents a huge revenue loss. A single LNG export project produces about $600 billion in revenue over its lifespan and creates thousands of jobs, including in steel manufacturing and fracking—no government subsidies are required.
As a further example, Venture Global’s Gulf Coast CP2 could supply about 5% of the world’s LNG by 2026 and would have a bigger impact on the U.S. economy than any green energy project. It would also reduce global greenhouse gas emissions by 140 million tons a year—about as much as all container ships in the world produce. But it still needs an Energy Department permit.
The WSJ wants to know how Administration officials will explain to Congress how this remarkably destructive ban is in the public interest.
They don’t have to. They just lie, and most of the media back them up. This kind of action goes unnoticed and doesn’t hit Americans until it’s too late.