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Top Biden Aide Questions Whether Or Not The World Really Needs More American Energy

President Joe Biden's aides questioned whether the world needs more American energy in an interview with Bloomberg Radio on Thursday.

In an interview on Bloomberg Radio's “Balance of Power,” Amos Hochstein, Biden's senior energy and investment adviser, questioned whether the rest of the world really continues to need more U.S. natural gas. questioned. His remarks came in response to a question about the Biden administration's White House decision to suspend approvals for new liquefied natural gas (LNG) export terminals in January. give instructions The Department of Energy (DOE) has expanded the scope of the approval review process and consider We consider climate impacts as well as impacts on economic outcomes and energy security.

“I want to hear about the president suspending LNG export approvals. I don’t know if this is a problem. [Biden] We're going to cover it tonight, but I think this is probably going to come up. But is there a possibility that this will be temporarily suspended? asked Joe Mathieu, one of the Bloomberg Radio interviewers. (Related: Biden's natural gas moratorium will increase emissions and empower foreign producers, experts say)

“A good question to ask is whether we need more facilities,” Hochstein responded. “I don't know the answer to that. There are different predictions about what the demand will be. So I think [Biden’s] Tonight, tomorrow and for the next five years, the focus will continue to be on accelerating the energy transition…We have an energy mix and energy security for us and our allies. ”

Several indicators suggest that strong global demand for LNG will continue for some time. For example, Shell, one of the world's largest energy companies, predicts that global natural gas demand will increase by more than 50% by 2040. according to According to a report released by the company in February.

Europe, which has relied heavily on LNG imports from the United States since the outbreak of the Russo-Ukrainian war to avoid energy problems and a decline in political support for the Ukrainian cause, is concerned about the difference between contracted long-term LNG supplies and long-term supplies. The gap is widening. -Term LNG needs, according to Market analysis by Rystad Energy.

The head of Eurogas, an oil and gas industry association made up of 101 European companies, wrote: letter Prior to this decision, the suspension of new export approvals “risked widening and prolonging global supply imbalances” and that “the period of price volatility in Europe would inevitably be prolonged, leading to higher prices and This could have an economic impact as a result.” Disruption and social impact. ”

Elsewhere, prospective LNG buyers in Asia, including Japan and China, are looking for alternative suppliers to protect themselves from changes in plans caused by the moratorium on new U.S. export hubs. according to Go to Bloomberg News.

In late February, Qatari authorities announced additional long-term increases in natural gas production, complementing existing growth plans and putting the country on track to increase production capacity by 85% by the end of the decade. Qatar expects natural gas demand to remain strong, especially as Asian economies look to transition away from coal.

Notably, Qatar has signed two major long-term agreements with China for natural gas supplies in the past 18 months. Energy sector experts have previously told the Daily Caller News Foundation that the measures will not reduce emissions and will actually increase emissions by ramping up foreign natural gas production in places like Qatar and Russia. He said the amount would be increased.

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