Today, Joe Biden announced that he is pausing pending decisions on new Liquefied Natural Gas exports. This announcement by President Biden is as outrageous as it is subversive.
Let me be clear: such a move is economically and strategically perilous and, quite frankly, unnecessary. Over the years, both Democratic and Republican administrations have consistently affirmed that U.S. LNG exports not only contribute positive economic benefits but also enhance our energy security and have the potential to reduce global greenhouse gas emissions.
We find ourselves at a pivotal moment. Our European allies are in dire need of American energy to counter Russia's weaponization of its natural gas exports. In December 2023, a staggering 87 percent of U.S. LNG exports were directed towards the European Union, United Kingdom, or Asian markets. Actions that impede our ability to export U.S. LNG would weaken global energy security, putting strategic markets at risk and undermining efforts to reduce Europe's reliance on Russian energy.
The U.S. has more LNG export capacity than any other country and has exported more LNG than any other country.
Since Russia's invasion of Ukraine began, American petroleum producers have increased LNG shipments to our partners in Europe to prevent a catastrophic, continent-wide energy crisis and to provide an alternative to Russian energy exports.
It is outrageous that this administration is asking American taxpayers to spend billions to defeat Russia while knowingly forcing allies to rely on Russian energy, giving Putin an advantage. This policy change also flies in the face of the commitments made when the White House announced the joint US-EU Task Force less than two years ago to reduce Europe's dependence on Russia and strengthen energy security.
The only thing Joe Biden is committed to is destroying the American energy industry and putting America Last.