Edward Conard

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  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
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  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
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  • “…serious thinking for serious thinkers. …a thought-provoking blueprint for growing middle- and working-class incomes.” - Mitt Romney, former Governor of Massachusetts
Upside of Inequality Oxford Unintended Consequences

AI Summary. The US halted approval of new licenses to export liquefied natural gas pending review of how shipments affect climate change, the economy, and national security. The pause affects more than a dozen proposals awaiting review at the Energy Department and is likely to disrupt plans for billions of dollars in projects.

Ari Natter, Jennifer A Dlouhy, and Ruth Liao Bloomberg
Date Posted:

The Biden administration “paused” the approval of new LNG licenses pending a new review process to account for climate change concerns, a move that will benefit foreign LNG producers.

Does halting new gas export licenses disrupt billions in planned projects?

Core argument: The Biden administration halted approval of new licenses to export US liquefied natural gas while it examines how the shipments affect climate change, the economy, and national security, a moratorium likely to disrupt plans for billions of dollars in projects.

The Biden administration halted the approval of new licenses to export US liquefied natural gas while it scrutinizes how the shipments affect climate change, the economy, and national security — a moratorium likely to disrupt plans for billions of dollars in projects. The pause could have implications for more than a dozen proposals now awaiting review at the Energy Department, including ventures planned in Louisiana by Commonwealth LNG and Energy Transfer LP.

Takeaways by Macro Roundup® AI

  1. The Biden administration halted approval of new licenses to export US liquefied natural gas while it examines how the shipments affect climate change, the economy, and national security, a moratorium likely to disrupt plans for billions of dollars in projects.
  2. The pause could affect more than a dozen LNG export proposals awaiting review at the Energy Department, including ventures planned in Louisiana by Commonwealth LNG and Energy Transfer LP.

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  • The Changing Nexus Between Commodity Prices and the Dollar: Causes and Implications — The shale boom turned the United States into a net exporter of natural gas and of oil, altering how commodity prices relate to US trade. Where higher oil prices were historically associated with a deterioration in US terms of trade, they now correspond to an improvement.
  • US Shale: The Marginal Supplier Matures — The responsiveness of US oil supply to prices has declined and is estimated to be much smaller for publicly traded producers than private ones, with a 10% price increase raising US liquids output by roughly 1%, or 200,000 barrels a day. That implies US supply would offset only about 20-25% of a geopolitical supply shock.
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