(UnitedHeadlines.com) – Despite President Joe Biden promoting and pushing green energy during his administration, he also continues to rely heavily on fossil fuels.
The Biden administration’s Jan. 26 decision about pausing the approval of new facilities that export natural gas is an example of how his energy agenda focuses on overtly promoting renewable energy and focuses covertly on keeping fossil fuels cheap and plentiful. The Jan. 26 decision allows current facilities to continue operating without limiting exports. The U.S. is currently the number one exporter of natural gas.
During the pause, the Department of Energy will conduct a review, lasting up to a year, on how surging U.S. natural gas exports affect domestic energy prices, climate change and national security concerns. A comment period will follow the review.
According to Energy Secretary Jennifer Granholm, there has been a dramatic increase in U.S. natural gas exports, with the U.S. capacity to export natural gas tripling since 2018. She added that the capacity to export natural gas is set to triple again based on projects already under construction.
It is unclear how many projects would be affected by the pause. Federal data shows there are 11 projects approved by the Federal Energy Regulatory Commission that are not yet under construction. Four other projects pending review by the Federal Energy Regulatory Commission and two more in the pre-filing stage could be affected if approved by the Federal Energy Regulatory Commission.
The Biden administration claims the pause is because the rules for how export facilities are approved need to be updated. However, lowering natural gas exports results in a drop in natural gas prices, according to a 2023 analysis from the U.S. Energy Information Administration. Natural gas is responsible for powering 40 percent of the electricity generated in the country and 60 percent of home heating. On OilPrice.com, Kurt Cobb wrote that if exports remained high, there is “the possibility of much higher domestic prices” over the next few years.
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