It is little discussed, but Biden's pause on the new projects was based, in part, on the negative impact on prices paid by consumers because natural gas was being diverted to LNG exports. Reduced domestic supply has led to higher prices paid by consumers:
The current economic and environmental analyses DOE uses to underpin its
LNG export authorizations are roughly five years old and no longer
adequately account for considerations like potential energy cost
increases for American consumers and manufacturers beyond current
authorizations or the latest assessment of the impact of greenhouse gas
emissions.
Natural gas diverted to export already reached 10% of production in 2022.
Reported here:
The president reversed the Biden administration’s pause on new liquefied natural gas export facilities. Trump directed the Energy secretary to start reviewing new LNG projects as quickly as possible.
Natural gas prices have exploded by 210% since Trump was elected in November.
