 |
Louisiana Light • 5 days | 86.99 | -0.61 | -0.70% | ||
|
Bonny Light • 9 days | 86.00 | -0.62 | -0.72% | ||
|
Opec Basket • 4 days | 87.06 | -0.37 | -0.42% | ||
|
Mars US • 246 days | 76.40 | -1.43 | -1.84% | ||
|
Gasoline • 1 day | 2.559 | -0.042 | -1.62% |
|
Bonny Light • 9 days | 86.00 | -0.62 | -0.72% | ||
|
Girassol • 9 days | 87.27 | -0.38 | -0.43% | ||
|
Opec Basket • 4 days | 87.06 | -0.37 | -0.42% |
|
Peace Sour • 2 days | 76.68 | +0.87 | +1.15% | ||
|
Light Sour Blend • 2 days | 79.13 | +1.07 | +1.37% | ||
|
Syncrude Sweet Premium • 2 days | 83.73 | +1.32 | +1.60% | ||
|
Central Alberta • 2 days | 77.13 | +0.82 | +1.07% |
|
Eagle Ford • 4 days | 80.36 | +1.07 | +1.35% | ||
|
Oklahoma Sweet • 4 days | 80.50 | +1.25 | +1.58% | ||
|
Kansas Common • 5 days | 73.00 | -0.75 | -1.02% | ||
|
Buena Vista • 4 days | 90.42 | +1.07 | +1.20% |
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U.S. House Passes Reversal Of Biden’s LNG Export Ban
The U.S. House voted and passed a measure to take away the Biden Administration’s ability to pause the approval of new LNG exports to large markets.
The vote, which took place on Thursday, is designed to grant only the Federal Energy Regulatory Commission the authority to approve new LNG exports within the United States—meaning that the Biden Administration’s Department of Energy would no longer have the authority to stand in the way of new approvals. But while the measure passed in the Republic-led House, it may run up against an insurmountable challenge in the Democrat-led Senate—where it would need to pass in order to become law.
In the last week of January, the Biden Administration announced a pause in new LNG export project approvals, sparking intense backlash from Republicans and supermajor oil companies.
The stated justification for the pause is to give the Department of Energy time to review the environmental and economic impacts of this burgeoning segment of the fossil fuels industry. The pause could persist until after U.S. presidential elections on November 5. During the pause, the Department of Energy will conduct new studies on the impact these projects have on health and communities.
While the measure will likely fail to pass in the Senate, the push for the reversal could open up dialogue to begin a debate on the topic, ClearView Energy Partners said earlier this week.
The measure could—in time—have a negative impact on Europe, which is trying to keep from importing Russian natural gas. European Commission Executive Vice President Maros Sefcovic said earlier this week that the United States is the “global guarantor of energy security” and that its responsibility in this regard extends beyond Europe.
By Julianne Geiger for Oilprice.com
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Julianne Geiger
Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.
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