On Friday, Joe Biden paused approvals for pending and future applications for the exportation of liquified natural gas (LNG) from new projects, a pause that could see delays on decisions on new plants until after the November election.
During the pause, the Department of Energy will conduct a review looking at the economic and environmental impacts of projects seeking approval to export LNG overseas where the fuel is in demand, according to NBC News.
The pause is only on pending applications for exports to countries with which the US does not have free trade agreements. Exceptions for unanticipated and immediate national security emergencies will be allowed.
This review will take months, and then will be open to public comments which adds time, Energy Secretary Jennifer Granholm said in a press conference, according to Reuters.
The US is the top exporter of LNG nationwide, with around half of all exports in 2023 going to Europe.
"During this period, we will take a hard look at the impacts of LNG exports on energy costs, America’s energy security, and our environment," Biden said in a statement, adding that the pause "sees the climate crisis for what it is: the existential threat of our time."
Biden took aim at MAGA Republicans in his statement, writing, "While MAGA Republicans willfully deny the urgency of the climate crisis, condemning the American people to a dangerous future, my Administration will not be complacent. We will not cede to special interests."
"We will heed the calls of young people and frontline communities who are using their voices to demand action from those with the power to act," Biden added. Environmentalists and younger adults in groups centered around climate change make up part of Biden’s base going into the election.
In an interview with CNBC, Granholm was asked, " This is all about Biden's campaign vow to put fossil fuels out of business, right?"
"I did not hear him say that," Granholm replied.
On the campaign trail for his first term, Biden declared, "I guarantee you we are going to end fossil fuel."
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The Acadian Advocate reported that the pause "could have a seismic effect on the LNG industry" in Louisiana. As of December, 18 LNG export projects were awaiting approval from the Department of Energy to countries with which the US does not have a free trade agreement. 12 of those 18 projects are located in Louisiana.
According to the Grow Louisiana Coalition, the oil and natural gas industries in the state generated more than 260,000 jobs and generated in 2015 over $19.2 billion in household earnings for Louisianians. The state is the number four producer of natural gas in the US.
A study by the LSU Center for Energy Studies found that Louisiana could gain 1,300 upstream oil and gas jobs throughout 2024. More than half of an announced $170.5 billion in Gulf Coast industrial projects are set to be located in Louisiana.
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