· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on the Financial Times or enjoy below:
🗞️ Driving the news: Environmental groups are leveraging new Biden administration air pollution rules to challenge the development of major natural gas export terminals in the US
• The Federal Energy Regulatory Commission (FERC) will now have stricter standards for assessing these projects' impact on air quality
🔭 The context: The EPA has tightened the allowable limit for fine particulate matter, requiring more rigorous scrutiny of LNG projects
• The Department of Energy has also paused new export licenses pending a review, adding to the industry's regulatory challenges
🌍 Why it matters for the planet: The new regulations aim to improve air quality in industrial areas and address the long-term climate impacts of locking in natural gas reliance
• Environmental groups argue this is crucial for the transition to cleaner energy sources
⏭️ What's next: With five major projects awaiting FERC decisions, including Venture Global's $10bn CP2 project in Louisiana, the industry faces increased uncertainty
• The upcoming US elections could significantly alter the regulatory landscape
💬 One quote: "We plan to hold FERC’s feet to the fire to ensure that it follows through and satisfies its legal obligations,” said Tom Gosselin, staff attorney at the Sierra Club.
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