Biden's LNG pause tees up pre-election risks
Climate Change,Business,Natural Gas,Liquid Natural Gas,Department Of Energy,Energy,Trade
President Biden jolted the energy and climate worlds by pausing liquefied natural gas export approvals, and in doing so stirred up several political and business risks ahead of the 2024 election.
The big picture: The Energy Department announced on Friday it would freeze new permits as officials reassess the climate, energy security and market effects.
Why it matters: The decision has already become part of Trump vs. Biden, the sequel. On Friday, the former president and presumptive GOP nominee released a statement bashing the decision.
Donald Trump also vowed to approve new projects "on my very first day back" during a campaign rally Saturday.
Capitol Hill probes are already gearing up, with an unhappy Joe Manchin, the Senate's Energy Committee chairman, vowing a hearing in coming weeks.
Expect oversight from House Republicans, too.
There's little chance Congress can thwart Biden, but Capitol Hill critics will look to put the White House on the defensive (Check out Axios Pro: Energy Policy this afternoon for new details on the Capitol Hill outlook).
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