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Monday, April 29, 2024

Barrasso: The World Needs and Wants More American Natural Gas, Not Less

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Sen. John Barrasso - Ranking member of the Energy and Natural Resources Committee | Official U.S. Senate headshot

Sen. John Barrasso - Ranking member of the Energy and Natural Resources Committee | Official U.S. Senate headshot

WASHINGTON, D.C. - In a recent full committee hearing on liquefied natural gas (LNG) export approvals and the Department of Energy's process for assessing LNG export applications, U.S. Senator John Barrasso emphasized the importance of American natural gas exports for the world's energy needs.

Senator Barrasso opened his remarks by expressing gratitude for the hearing and highlighting the concerning track record of President Joe Biden on energy security issues. He quoted former Defense Secretary Robert Gates, who had criticized Biden's foreign policy and national security decisions, stating, "he has been wrong on nearly every major foreign policy and national security issue over the past four decades."

Barrasso then turned to President Biden's recent decision to pause approving LNG exports, calling it "Biden's Worst Energy Decision" yet, according to The Wall Street Journal. He also cited The Washington Post, which referred to the pause as "just political theatre" and "an election year sop to climate activists." Barrasso characterized the decision as a move to appease radical environmentalists who want to end exports of American natural gas.

The senator criticized the president's justification for the pause, claiming that the impacts of LNG exports on energy costs, security, and the environment are already well-known. He argued that the impacts are overwhelmingly positive, including for the economy and the environment. Barrasso described President Biden's decision as "cowardly" and a capitulation to radical climate extremists.

Barrasso then raised concerns about the decision-making process behind the pause, pointing to a New York Times report that suggested the White House based its decision on the demands of a 25-year-old TikTok influencer. He questioned the wisdom of relying on a social media account to set policy affecting the United States' closest allies around the world.

The senator proceeded to present data refuting critics' claims that American natural gas exports would raise domestic prices and reduce the supply of natural gas at home. He highlighted that the average domestic spot price of gas has been lower since the start of LNG exports, and there has been an increase in natural gas availability in the United States. Barrasso attributed this increase to the stimulation of additional natural gas production resulting from exports.

Barrasso also emphasized the positive impact of LNG exports on the American economy, stating that they brought $134 billion into the country from 2016 to 2023 and created thousands of well-paying jobs. He underscored the importance of American natural gas exports for national security, arguing that without them, allies and partners would be more dependent on Russia and Iran. He cited Europe's reliance on American energy to reduce imports of Russian gas and avoid supporting Putin's aggression against Ukraine.

The senator concluded by dispelling the notion that American natural gas exports are detrimental to the environment. He emphasized that American natural gas is among the cleanest in the world and its role in reducing emissions has been recognized by nearly 200 countries, including the United States, at climate conferences. Barrasso stated, "the world needs - and wants - more American energy, not less," and called on President Biden to reverse his decision.

If the president fails to act, Barrasso urged Congress and the committee to take action. He ended his remarks by thanking the chairman for the opportunity to address these crucial energy security issues.

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