the export of an important source of# global energy.

That's natural gas.

While the U.S. is currently the largest# exporter of natural gas in the world,## the White House argues the climate effects of# these projects are just too great to ignore.

William Brangham breaks down what it's all about.

WILLIAM BRANGHAM: Geoff, the Biden# administration will not approve or## even consider any new terminals that# export liquefied nat until it completes a thorough review of their# climate and national security implications.## Industry groups criticize the decision, while# environmentalists have hailed this as what they## say is a key victory in trying to reduce the# fossil fuels that are driving climate change.

Coral Davenport covers energy and# environmental policy for The New York Times.

Good to have you back on the program.

What are the broader implications of# this going to go away.

We still all use it every# single day, but especially for the mark where there is such demand for it, given the# war in Ukraine, what are the impacts of this?

CORAL DAVENPORT, The New York Times:# The first thing to remember is,## this decision comes in the world and still has more of# these terminals under construction.

U.S. natural gas exports are projected# to double over the next four years,## given all of the natural gas export# terminals that are already being built.

WILLIAM BRANGHAM: Even with this pause?

CORAL DAVENPORT: So that takes you natural gas export market, but you have# got these 17 terminals that are awaiting## approval.

These are the ones that will be halted,# paused.

This really is a very significant shift.

The White House hasn't said# that they will be denied,## but they're really raising the environmental ba denied a permit to build one of these natural# gas export facilities.

Now they're saying,## we are going to take the climate# impact of these into account.

And if they use a new methodology# that finds the climate impact of## one of these is too great to approve it,# that absolutely could have a long-term,## systemic effect of maybe not meaning zero# natural gas export terminals are ever built,## but it could really -- beyond five# years out, this could be something## that we don't see new construction of very# much at all anymore.

So it's a big deal.

WILLIAM BRANGHAM: The industry, as you# have reported, is furious about this.## They say this is going to cost jobs,# raise money for American consumers, that it will drive up costs.

They# call this also a win for Russia.

Tell us a little bit about# more of what their argument is.

CORAL DAVENPORT: Their argument is -- particularly# that the geo has successfully used its ability as a natural# gas exporter to, for example, weaken the power## that Vladimir Putin has, that Russia has in# cutting off natural gas supplies to Europe.

The U.S. has been able to redirect# its own natural gas supplies to send## it to our allies in Europe, to weaken# the influence of Russia.

That's very## powerful.

That's sort of the big# geopolitical argument.

That said,## again, the glut of natural gas exports over the# next three, four, five years is only growing.

So that -- it really kind of depends on what the# market looks like beyond five years.

And there## are some analysts who say we're already reaching a# place where these natural gas exports are a glut,## where there's so much production,# where there's not as much demand.

That said, we don't know what markets are going to# look like in the future.

The big is going to be from Asia.

If, in the long run, the# U.S. is not supplying that growth in Asia does that mean for sort of long-term geopolitical# questions?

We don't have answers for those.

WILLIAM BRANGHAM: The environmental community,# as you know and have reported, is thrilled about## this.

They're kind of surprised in some way# at how fast the Biden administration moved.

I wonder if you could give us a sense,# does this meaningfully achieve the goals## that they all are searching for,# which is a reduction in emissions,## meaning, will this have a net# impact on our climate emissions?

CORAL DAVENPORT: Climate emissions are global,## and they are caused -- there are so# Ul timately, economists will tell# you that the thing that reduces## emissions is reduction in demand, fewer# people driving g fewer people using fossil fuels for# electricity.

There needs to be sort## of a global shift.

So will this one# specific action change that?

No.

But it is -- it does seem like it will --# it has really created a big shift in this## one piece of the U.S. fossil fuel picture.# I would say that we have seen big fights## from the environmental group, the climate# activist community over the last 10 years,## over the Willow Project, which# was a big oil project in Alaska.

They tried to get Biden to turn that down.# He didn't.

He went ahead and improved it.## Keystone Pipeline, they had a victory in# stopping one single oil pipeline.

This is## much bigger than those, because this is not# one individual project.

This is a systemic## change.

This is the turning of the tide in a# really significant way.

They got a big win.

WILLIAM BRANGHAM: How much# of this was about politics?

CORAL DAVENPORT: This was an explicitly political# ca in President Biden for proceeding with the# Willow oil drilling project in Alaska last year.

They felt that a lot of young voters, not# necessarily would vote for Donald Trump,## but would stay home, would not work to get out# the vote.

And they explicitly kind of found this## issue and found this project, these gas export# terminals, and said, we want to elevate this## on social media, on Instagram and TikTok, and we# want to bring it to the president's front door,## and we will punish or reward him, the# activists' words, based on what he does here.

He gave them what they wanted.

And they# are now preparing to go to swing states## and use this as a moment to turn# out young voters, who, of course,## are crucial in this election, the largest# voting demographic, hoping to bring out## a couple more young voters in swing states# specifically in response to this decision.

WILLIAM BRANGHAM: All right, Coral Davenport# of The New York Times, thank you so much.

CORAL DAVENPORT: Great to be here.