…to stop doing business with the People’s Republic of China—especially, stopping exporting American natural gas to that nation.
The Biden administration has been busily selling American, that is, domestically produced, liquified natural gas to the People’s Republic of China. LNG his administration sells there, mind you, isn’t LNG he can sell to the gas-strapped nations of Europe and Asia.
Selling energy to an enemy nation is bad enough, and it’s worse when those sales come in preference to sales of the same energy to our friends and allies.
The worst, though, is selling our energy to that enemy nation—the PRC—only to have that nation resell our energy to our friends and allies—the gas-strapped nations of Europe and Asia—at a steep profit for itself.
[PRC] companies that signed long-term contracts to buy US liquefied natural gas are selling the excess and making hundreds of millions of dollars per cargo. Buyers include Europe, Japan and South Korea.
[The PRC]’s ENN Natural Gas Co is expected to profit from this trade when it sends the LNG tanker Diamond Gas Victoria to pick up a cargo of gas from Cheniere Energy Inc’s plant at Sabine Pass, LA, on the Gulf Coast on October 18, according to three industry sources.
Instead of dispatching the tanker to [the PRC]’s east coast, the vessel is scheduled to deliver LNG to Europe, they said. ENN is estimated to make a profit of between $110 million and $130 million on this one cargo shipment, analysts said, basing their calculations on market pricing data.
It’s true enough that the PRC’s resales to Europe and Asia are a drop in the ocean compared to those nations’ natural gas needs, but these are sales, and profits, that would be better done as a result of our directly selling our liquified natural gas to Europe and Asia, and at a lower cost, if only from cutting out the middle man. And from cutting out an enemy nation.