A new study shows that the Biden-Harris administration’s ban on new liquefied natural gas export permits could put almost one million jobs at risk over the next 20 years if the ban is not overturned.
According to a study conducted by the National Association of Manufacturers and PwC shared with Fox Business, if the ban on new permits for liquefied natural gas exports remains in place for the next two decades, anywhere from 515,960 and 901,250 jobs could be at risk, along with approximately $103.9 billion in labor income. According to Fox Business, the recent study used the Energy Department’s economic outlook prior to the Biden-Harris administration’s ban to calculate the potential impact over the next 20 years.
The study also indicated that the administration’s ban would reduce the country’s possible gross domestic product by $122.5 billion and $215.7 billion in 2044, while $26.9 billion to $47.7 billion in taxes and royalty revenues to the local, state, and federal government would be at risk if the gas ban remains in place.
Contrasting an “all-of-the-above energy strategy” with the Biden-Harris administration’s liquefied natural gas export permit ban, National Association of Manufacturers CEO Jay Timmons told Fox Business, “With an all-of-the-above energy strategy, we don’t have to choose between national security, economic growth, and environmental protection—they go hand in hand. Today’s research highlights the massive potential we unlock when we embrace American energy production.”
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According to Fox Business, the National Association of Manufacturers study showed that U.S. liquefied natural gas exports resulted in $23.2 billion in labor income and provided 22,450 jobs in 2023. The study also showed that liquefied natural gas exports provided $11 billion in taxes and royalty revenues for the government and added $43.8 billion in gross domestic product.
“Our new research makes clear that clamping down on LNG exports jeopardizes jobs and economic growth. It also forces other nations to rely on dirtier alternatives from adversarial nations like Russia, which exacerbates national security risks,” Timmons told Fox Business. “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.”
Fox Business reported that the Biden-Harris administration halted new approvals for liquified natural gas exports to non-Free Trade Agreement countries in January; however, a federal court put a temporary hold on the administration’s ban in July after multiple states challenged the legality of the ban.
