Biden admin's LNG export ban puts nearly 1 million jobs at risk: study

Published On Oct 16, 2024, 10:00 AM

The Biden-Harris administration's decision to pause new LNG (liquefied natural gas) export permits for environmental reviews could potentially threaten nearly one million jobs over the next two decades, according to a study by the National Association of Manufacturers (NAM) in collaboration with PwC. The study estimates that continued restrictions could result in GDP losses of between $122.5 billion and $215.7 billion by 2044, alongside significant tax revenue losses. Advocates argue that lifting the ban could support job creation, economic growth, and energy independence by leveraging U.S. natural gas resources.

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The LNG export industry stands to gain significantly if the Biden administration reverses its current pause on new LNG export permits. Investors may want to consider positions in companies directly linked to LNG operations that could benefit from an increase in export activities. Conversely, companies that oppose LNG exports may face financial setbacks if the ban continues.

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