US regulators issue preliminary environmental support for Rio Grande LNG
HOUSTON, March 28 (Reuters) - The Federal Energy Regulatory Commission issued a preliminary decision on Friday supporting environmental approval for NextDecade's (NEXT.O), opens new tab Rio Grande LNG project in southern Texas.
In August, a Washington, D.C. Circuit court quashed the regulator's approval for the plant at the Port of Brownsville, Texas, saying it failed to issue a supplemental Environmental Impact Statement on how communities will be affected and ordered it to publish one for public comment.
The comment period for the draft statement ends on May 19, FERC said.
NextDecade has continued constructing the plant and in 2027 is expected to expand LNG capacity that will help the U.S. remain the world's leading exporter of the superchilled gas.
U.S. President Donald Trump has declared an energy emergency and laid out a sweeping plan to maximize oil and gas production.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sky News
39 minutes ago
- Sky News
Diplomatic win for UK hosting US-China trade talks
Sky News understands that the Trump administration approached the UK government to ask if it would host round two of the US-China trade talks. This is a useful 'diplo-win' for the UK. The first round was held in Geneva last month. News of that happening came as a surprise. The Chinese and the Americans were in the midst of a Trump-instigated trade war. President Trump was en route to Saudi Arabia and suddenly we got word of talks in Switzerland. They went surprisingly well. US treasury secretary Scott Bessent and his Chinese counterpart He Lifeng, met face-to-face and agreed to suspend most tariffs for 90 days. But two weeks later, the Trump administration accused Beijing of breaking the agreements reached in Geneva. Beijing threw the blame back at Washington. On Wednesday, Donald Trump and Xi Jinping spoke by phone. The Chinese claimed this call was at the Americans' request. Either way, the consequence was that the talks were back on track. "I just concluded a very good phone call with President Xi of China, discussing some of the intricacies of our recently made, and agreed to, trade deal," President Trump said this week. From that call came the impetus for a second round of talks. A venue was needed. In stepped the UK at short notice. Beyond being geographically convenient, UK government sources suggest that Britain is geopolitically in the right place right now to act as this bridge and facilitator. The UK-China relationship is in the process of a "reset". Other locations, like Brussels or other EU capitals, would have been less workable. Crucially too, for the UK, this is also potentially advantageous as it seeks to get its own UK-US trade agreement, to eliminate or massively reduce tariffs, over the line. 5:08 Talks on reaching the "implementation phase" have been near-continuous since the announcement last month, but having the American principals in London is a plus. Sideline talks are possible, but even the presence of the US team in the UK is helpful. For all the chaos that President Trump is causing with his tariffs, he has instigated face-to-face conversations as he seeks resets. Key players are sitting down around tables - yes, to untangle the trade knots which Trump tied, but this whole episode has pulled foes together around the same table; it has forced relationships and maybe mutual understanding. That's useful. And for this next round, between superpowers, the UK is the host. Also useful.
Reuters
3 hours ago
- Reuters
China's forex reserves up $3.6 billion in May, less than expected
BEIJING, June 7 (Reuters) - China's foreign exchange reserves rose by a less-than-expected $3.6 billion in May, official data showed on Saturday, as the dollar continued to weaken against other major currencies. The country's foreign exchange reserves, the world's largest, rose 0.11% to $3.285 trillion last month, below the Reuters forecast of $3.292 trillion. They were $3.282 trillion in April. The increase in reserves was due to "the combined effects of factors such as exchange rate conversion and asset price changes," China's State Administration of Foreign Exchange said in a statement. The yuan weakened 1.05% against the dollar in May, while the dollar slid 0.23% against a basket of other major currencies .
Reuters
4 hours ago
- Reuters
Fed's Musalem estimates ‘50-50' chances on tariffs triggering prolonged US inflation, FT reports
June 6 (Reuters) - St. Louis Federal Reserve President Alberto Musalem has put the likelihood of Donald Trump's trade war causing a prolonged surge in inflation at "50-50," warning that U.S. policymakers would face uncertainty "right through the summer," the Financial Times reported on Friday. Musalem told the newspaper that while U.S. President Trump's tariffs could boost inflation for "a quarter or two," there was "an equally likely scenario where the impact of tariffs on prices could last longer." Trump's tariff hikes and a $2.4 trillion budget bill have shaken markets, prompting a wait-and-see stance from the Fed after last year's rate cuts. Musalem said he believes officials could benefit from a favorable scenario where uncertainty over trade and fiscal policy "goes away in July," which would put the Fed back on track to cut interest rates in September, according to the FT. He also highlighted, however, the possibility of a scenario "where inflation begins to rise materially and we will not know whether that is a temporary, one-off increase in the price level or whether it has more persistence," the report said. The Fed is expected to hold rates steady at its mid-June meeting, when it will release updated economic projections.
