Biden-Harris LNG Ban: A Certified Job Killer and Economic Disaster

October 17, 2024

The Biden-Harris administration’s pause on new liquefied natural gas (LNG) export permits is a job killer on a tremendous scale. A new study from the National Association of Manufacturers (NAM) reveals that this policy puts nearly one million American jobs at risk over the next two decades. The gravity of the economic fallout is also devastating, threatening billions in GDP and tax revenues. This isn’t just a delirious policy; it’s an economic catastrophe in the making. 

Fox News reports:

“The Biden-Harris administration’s ban on new permits for liquefied natural gas (LNG) exports threatens nearly one million jobs over the next two decades if the restriction remains in place, a new study finds.”

The Biden-Harris administration’s environmental review is a thinly veiled attempt to appease a few radical green activists at the expense of nearly one million American workers, who the White House claims to represent. By halting LNG exports, the administration is not only killing jobs but also stifling economic growth. The study’s findings on the macro effects are abysmal: the LNG export ban could cost the U.S. between $122.5 billion and $215.7 billion in GDP by 2044. This is a self-inflicted wound that America can’t afford.

“The export ban would stifle the U.S. GDP by between $122.5 billion and $215.7 billion in 2044, while between $26.9 billion and $47.7 billion in tax and royalty revenues to federal, state and local governments would be at risk in 2044 if the permit pause persists, the study found.”

The LNG industry is a powerhouse for the U.S. economy, directly supporting over 222,000 jobs and generating billions in labor income and tax revenues. By clamping down on LNG exports, the Biden administration is forcing other nations to rely on dirtier energy sources from countries like Russia and Qatar. This not only jeopardizes national security but also undermines global efforts to reduce emissions. The administration’s shortsighted policy is a lose-lose for America and the world. In the Fox News story, NAM CEO Jay Timmons states:

“By expanding LNG export facilities, increasing natural gas production, and supporting clean energy initiatives, we can power manufacturing, improve the quality of life, boost our security and reduce emissions across the globe.”

The Biden-Harris administration’s LNG export ban is a recipe for economic disaster. At this point, they cannot deny that it threatens nearly a million jobs, stifles economic growth, and undermines national security. It’s crucial for policymakers to recognize the immense potential of American LNG and the livelihoods that it helps support. It’s time to unleash American energy and reject the job-killing policies of the Biden-Harris administration. The future of our economy and our national security depends on it.