Energy Secretary Jennifer Granholm warned that "unfettered exports" of liquefied natural gas could significantly drive up domestic prices and worsen greenhouse gas emissions.
The Energy Department's report highlighted that increased LNG exports could raise domestic wholesale gas prices by over 30%, costing American households $100 more annually by the year 2050.
Granholm emphasized that the recent energy price fluctuations due to the COVID-19 pandemic demonstrate the risks of export-induced price increases, potentially harming families' ability to afford basic needs.
According to Granholm, the report shows that a business-as-usual approach to LNG exports is neither sustainable nor advisable, reinforcing the need for careful consideration going forward.
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