66
Biden Pauses Approvals of Liquefied Natural Gas Export Terminals
(www.nytimes.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 27 Jan 2024
66 points (98.5% liked)
World News
32245 readers
870 users here now
News from around the world!
Rules:
-
Please only post links to actual news sources, no tabloid sites, etc
-
No NSFW content
-
No hate speech, bigotry, propaganda, etc
founded 5 years ago
MODERATORS
On one hand, fuck natural gas.
On the other hand, isn't this really bad for Europe? They can't get natural gas from Russia, the Red Sea is still blockaded for genocide-supporters, and the US isn't picking up the slack.
Bad for Europe is good for America. Europe's manufacturing PMI is in the gutter, but they still gotta get their manufactured goods somehow.
I mean, their reserves have been holding steady for the last two winters, and the US has already picked up so much slack that it’s now the worlds largest exporter of natural gas. Even more export capacity on top of current capacity, to be completed years from now, isn’t that bad for Europe, especially when their demand is expected to drop from now on as the rate at which they adopt renewables continues to increase.
The extra capacity is primarily aimed at lowering the export prices in industrializing nations in Africa and South America so natural gas can get back to some semblance of cost parity with currently cheaper and more reliable solar. Bad for US gas companies yes, Europe, probably not.