October 13th, 2023

• Stay up to date on all things energy by visiting the TEA Newsroom.
• Natural Gas CARES: It is the world’s Cleanest, Affordable, Reliable Energy Source.
• Kansas Republican Party issues resolution opposing renewables.
• Huge new wind turbines face backlash.
• A shuttered CPS coal plant is a possible Texas winter power lifeline.
• Energy Alliance opposes Biden admin. push for all-EV, says NG reduces emissions.
• China’s EV sector is hemorrhaging cash — but subsidies keep the lights on.
• Coming this Halloween: Solar of the Corn

The issue: Unleashing the power of American Liquified Natural Gas (LNG) supports our allies, stabilizes world energy markets, and improves the global environment. This is step 6 in our Common Sense Energy agenda. 

Why it matters: America has one of the largest supplies of natural gas in the world, enough to power our own needs and our allies for a century. The world is safer when America leads in energy production and distribution.

This belief has come to the forefront given this past weekend’s Iran-backed terrorist attacks on Israel.

Consider:

• Oil prices increased almost immediately after the war ignited in the Middle East. America’s energy independence results in production and sales of natural gas, oil and coal internationally and keeps energy costs down.
• An extended conflict could slow natural gas investment in that region as world events help shape energy markets.
• The Russian attack on Ukraine is another reminder of the need for America to produce reliable energy. Gazprom dominated the European market for decades and had a monopoly over Russia’s pipeline gas. It lost most of its LNG market share following the invasion in February 2022.

In the first half of 2023, the U.S. exported more LNG than any other country and shipped it to over 35 countries.
LNG exports create economic opportunity, revenues and jobs in the U.S. and raises people out of energy poverty around the globe. America has the largest supply of clean, affordable and reliable natural gas in the world. Building more LNG terminals and exporting this green energy ensures economic growth, environmental improvements and security around the world.

Bottom line: Energy security equals national security. When America is energy dominant, our enemies are weak. When America weakens, evil regimes prosper.

The issue: Secretary of State Antony Blinken insisted over the weekend that the $6 billion the Biden administration unfroze in exchange for the release of five American prisoners wasn’t used to attack Israel. That may be technically true, but there’s no question the U.S. decision to ease enforcement of oil sanctions against Iran has aided Israel’s enemies.

Why it matters:  News reports say Iran’s Islamic Revolutionary Guard Corps had been coordinating with Hamas since August, which is about when the U.S. agreed to the prisoner swap that would give Iran access to the $6 billion. And Iran has ramped up oil production at a faster rate than the U.S., as the Biden administration turned a blind eye to its sanctions circumvention.

Consider:

• Iran oil exports and revenue continued soaring even under sanctions.
• Iran’s oil minister said in August the country’s oil production would hit 3.4 million barrels a day by the end of September, the highest since 2018 when the Trump administration imposed sanctions.
• Its exports have increased by about one million barrels a day this year, because it has also been shipping stored fuel, primarily to China.

Questions also have arisen surrounding the ex-Iran envoy who was placed on leave this summer amid “serious security concerns” with his actions. The State Department may have some explaining to do.

Bottom line: Iran cannot wreak havoc on the world if they don’t have the funds to do so. That’s the thinking behind oil sanctions enacted by the Trump admin. Sadly, the Biden admin eased those sanctions, opening up $30-$40b that Iran can use for evil.

Despite the outbreak of war in the Middle East which caused oil prices to jump, gas prices are on the decline across the country. The national average for a gallon of gasoline is down 12 cents compared to this time last week, currently sitting at $3.63. There are now 9 states with average fuel prices south of $3 per gallon, and this number could grow in the coming weeks. Good news for drivers!

Hearing On Offshore Leasing: On Wednesday, October 18, the House Natural Resources Subcommittee on Energy and Mineral Resources will have a hearing called “Examining the Biden Administration’s Unprecedented Obstruction of the BOEM Offshore Leasing Program.”

Hearing On DOE’s Grants And Loans Process: On Thursday, October 19, the Senate Energy and Natural Resources Committee will have a hearing to examine the Department of Energy’s due diligence process for awarding competitive grants and loans funded through the Inflation Reduction Act and the bipartisan Infrastructure Law and the Department’s overall innovation investment strategy.

FERC Open Meeting: On Thursday, October 19, the Federal Energy Regulatory Commission will hold an Open Meeting of the Commission.

“The fact is, President Biden has enriched Iran, the world’s leading sponsor of terrorism, since the day he took office. Whether it’s the $6B in aid or the $30-$40B in oil exports, none of this money was flowing to Tehran under President Trump.”

— Ohio Secretary of State Frank LaRose, via X.