Ten days ago Joe Biden did something remarkable, and almost without precedent – he actually said no to big oil.
His administration halted the granting of new permits for building liquefied natural gas (LNG) export terminals, something Washington had been handing out like M&Ms on Halloween for nearly a decade. It’s a provisional “no” – Department of Energy experts will spend the coming months figuring out a new formula for granting the licenses that takes the latest science and economics into account – but you can tell what a big deal it is because of the howls of rage coming from the petroleum industry and its gaggle of politicians.
