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OilMonster
Natural Gas July 30, 2020 01:30:45 AM

Trump Says Export Terms for Liquefied Natural Gas Extended Until 2050

Anil
Mathews
OilMonster Author
The administration had already proposed extending LNG export terms through 2050, though it finalized the policy on Wednesday.
Trump Says Export Terms for Liquefied Natural Gas Extended Until 2050

SEATTLE (Oil Monster): President Trump announced Wednesday that export authorizations for liquefied natural gas (LNG) will go through 2050 and signed four permits for pipeline and rail transport of fossil fuels.

The administration had already proposed extending LNG export terms through 2050, though it finalized the policy on Wednesday. The export terms previously lasted 20 years.

“The United States is now the No. 1 producer of oil and natural gas on the face of the earth,” Trump said during a speech in Midland, Texas.

“To ensure we maintain this dominant position ... my administration is announcing today that export authorizations for American liquefied natural gas can now be extended through the year 2050,” he added.

Trump signed four energy infrastructure permits, including two that allow for the transport of U.S.-produced oil into Mexico.

“I will sign four critical permits granting approval to vital pipeline and railway infrastructure on our nation’s border,” he said ahead of the signing. “This will include two permits allowing the export of Texas crude to Mexico, a giant victory for the workers of this state.”

The permits allow for the construction and maintenance of pipeline facilities between the U.S. and Mexico and also for the construction of railway facilities at the U.S.-Mexico border. His action also allows for the maintenance of an existing pipeline at the U.S.-Canada border.

The administration has consistently supported fossil fuel companies, saying production is necessary to be energy independent. Critics, however, argue that these industries significantly contribute to climate change.

The administration took an additional, separate action on Wednesday to boost oil and gas producers, with the Bureau of Land Management proposing nixing certain requirements for measuring extracted oil and gas that’s produced on public land.

Courtesy: www.thehill.com

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