Democratic US senator opposes Biden pause on liquefied natural gas exports
Reuters
Published Feb 18, 2024 10:53AM ET
WASHINGTON (Reuters) - Democratic U.S. Senator Michael Bennet opposes President Joe Biden's decision to pause approvals of new exports of liquefied natural gas, saying on Sunday that it could undercut U.S. efforts to supply gas to Europe as it replaces Russian exports.
Bennet's comments were a sign that Biden faces dissent from his fellow Democrats on the move, which attempts to balance his climate goals with support for Europe during Russia's war on Ukraine.
Biden in late January paused new approvals for pending and future applications to export liquefied natural gas. The move — cheered by climate activists — could delay decisions on new plants until after the Nov. 5 election.
The Republican-led U.S. House of Representatives last week passed a bill that would strip away Biden's power to freeze approvals of the gas exports. The measure passed largely along party lines and faces uphill odds in the Democratic-run Senate.
Bennet, whose home state of Colorado is a natural gas producer, called Biden's decision "short-sighted" during an interview on Fox News Sunday but did not say whether he would support legislation to reverse it.
Russia has been a large oil and gas supplier to Europe, but since Moscow invaded Ukraine in February 2022, Europe has increasingly purchased U.S. liquefied natural gas.
"I think it's been very important for American liquefied natural gas to replace the natural gas that Russia was sending to Europe," Bennet said. "I believe one of the United States’ massive strategic strengths is our energy, our clean energy and our fossil fuels."
A European Commission official said last week that Biden's decision will have no effect on U.S. supplies to Europe over the next two or three years.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.