Oil Change International's Andy Rowell wrote that "there are always those who will want to profit from war or the threat of war, as unscrupulous as it may seem. And for the American oil and gas industry, there is no exception."
"As Ukraine and Russia stand on the brink of a potentially lethal and bloody conflict, the American Petroleum Institute and its allies have been active on social media, arguing that now is a perfect time to expand LNG exports," Rowell continued. "It is a flawed and short-sighted argument and one that will only cause more problems and chaos in the long term."
Now that Germany has for the time being officially pulled the plug on the Russian pipeline, U.S. fossil fuel corporations stand to profit further from increased liquefied natural gas (LNG) exports to Europe, an ongoing trend that is likely to intensify amid the conflict in Ukraine.
American energy executives have declared in recent weeks that they were eager to replace Russian pipeline gas with American liquefied gas, although U.S. exports would not be enough to make up for the vast Russian supply.
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