Biden Quietly Approved 2 Million Bpd Texas Oil Terminal [Yahoo! Finance News]
Enterprise Products Partners L.P. (EPD)
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Source: Yahoo! Finance News
Despite its clear anti-oil stance, the Biden administration has just approved a new oil export terminal for the Texas Gulf Coast, which will become the country’s biggest piece of oil export infrastructure.While the new terminal will add some 2 million barrels per day of new export capacity, the news failed to garner much public attention and the project was green-lighted very quietly, according to theTexas TribuneThe approval comes amid suggestions from Democrats in Congress that the U.S. should curb oil exports to secure local supply.The Tribune noted that the approval of the project was filed at the beginning of the week, after the end of the COP27 climate conference. However, the regulatory approval of the Sea Port Oil Terminal didn’t go completely unnoticed.“President Biden cannot lead on combating climate change, protecting public health or advocating for environmental justice while simultaneously allowing fossil fuel companies to lock-in decades of fossil fuel extraction,” said
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