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Biden Finally Agrees With Republicans and Allows Two New Natural Gas Projects To Begin
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Wed, May 18, 2022 10:07 AM
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Biden Finally Agrees With Republicans and Allows Two New Natural Gas Projects To Begin Biden Finally
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Biden Finally Agrees With Republicans and Allows Two New Natural Gas Projects To Begin Biden Finally Agrees With Republicans and Allows Two New Natural Gas Projects To Begin After months of pushing for the expansion of energy production here in the US, President Biden is finally listening and doing something. While not the oil or gas production increase the people wanted, the expansion of liquid natural gas (LNG) is a big step in the right direction. The Department Of Energy (DOE) taking the steps to bless off on two new LNG export terminals in Texas and Louisiana is a huge change. The Gold Pass LNG terminal in Texas and the Magnolia LNG terminal in Louisiana are being authorized on long-term orders. They will allow for the export of an additional 500 cubic feet of American LNG. These terminals are being built to support the replacement of Russian LNG in Europe. The DOEâs Office of Fossil Energy and Carbon Management said, âU.S. fuel supplies, including LNG, continue to play a key role in global energy security, particularly due to Putinâs invasion of Ukraine.â Getting these terminals open has been a bipartisan effort. Sen. Ted Cruz (R-TX) is one of the strongest forces behind these efforts. By flexing his muscle to prevent DOE nominations while they delayed the requests for these permits, Cruz was able to back the Biden administration into a corner with the choice of working with Cruz or facing the prospect of a DOE that can get nothing done. Back in March Biden make a deal with European Union leadership to ramp up the LNG supplied by nearly 530 billion cubic feet. The inclusion of US LNG in the bloc will help end their reliance on Russia for LNG as a sign of support for Ukraine, as well as increase the pressure of sanctions on Russia. While Russia has indecently chosen to end its supply of LNG to certain European nations, the conflict has sent the global energy market into a fierce tailspin. [Continue Reading]( FOLLOW US:
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