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Biden's truce with oil industry collapses over gas export permits
President Biden's decision to halt new permits for gas export terminals has spurred the oil and gas industry to rally behind Donald Trump for the 2024 election.
Lisa Friedman and Rebecca Elliott report for The New York Times.
In short:
- Biden initially balanced climate goals with industry profits, but paused new gas export permits in January.
- This move has intensified oil and gas industry support for Trump, with major fundraising events and significant donations.
- Climate activists see the permit pause as a victory, while the oil industry views it as a major setback.
Key quote:
“This L.N.G. pause is a huge deal for climate and environmental justice.”
— Tiernan Sittenfeld, senior vice president of government affairs for the League of Conservation Voters
Why this matters:
President Biden's recent decision to halt new permits for gas export terminals has ignited a fierce response from the oil and gas industry, driving many within the sector to throw their support behind former President Donald Trump for the upcoming 2024 election. Trump’s promises to deregulate and expand fossil fuel production resonate deeply with industry stakeholders who view his potential return to the White House as a pathway to revive and expand their operations.
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