Trump Revives Gas Export License; Warns Hamas and Criticizes Europe

On Friday, February 15, Donald Trump's administration issued a liquefied natural gas export license to Commonwealth LNG. This is the first approval for gas exports by Trump after Joe Biden, the previous president, halted this policy last year. According to Reuters, this export license includes markets in Asia and Europe. Trump also signed an executive order in the Oval Office establishing a new energy council managed by Doug Burgum, the U.S. Secretary of the Interior, which will focus on expanding oil and gas production in the United States. The U.S. is currently the largest producer of fossil fuels in the world. In another part of his remarks, Trump stated that oil and gas exploration operations will begin in 600 million acres (over 2.4 million square kilometers) of U.S. coastal waters. Commonwealth LNG, which has been waiting longer than other companies for a license, plans to export 9.5 trillion tons of gas annually from Louisiana to countries that do not have a free trade agreement with the U.S. Two other companies involved in liquefied natural gas, Chenier LNG and Energy Transfer, have announced they want to quickly implement their natural gas export plans. Trump further stated that he is working to obtain approval for the Constitution natural gas pipeline, which will transport natural gas from Pennsylvania to New York and lower energy prices. The Williams Companies canceled the launch of this pipeline in 2020 following opposition from politicians and environmental activists in New York. The U.S. President warned that if BRICS countries establish a common currency, they will face U.S. tariffs. He emphasized that the idea of weakening the U.S. dollar has vanished. In another part of his remarks regarding Gaza, Trump stated that a tough stance will be taken. Following Hamas's obstruction of the ceasefire agreement with Israel, the U.S. President announced in recent days that if Hamas does not release all kidnapped hostages by noon on Saturday, hell will break loose. Trump also criticized European countries, stating that freedom of speech in these countries is declining. Hours before Trump's remarks, J.D. Vance, the U.S. Vice President, accused European politicians of censoring freedom of speech at the Munich Security Conference. Trump continued that Vance's speech in Munich was well received by Europeans. Trump raised tariffs on steel and aluminum; gold has risen again. Trump stated that he will deal equally with any country that forces the U.S. to pay tariffs. A 25% tariff on steel and aluminum imports to the U.S. was imposed; new tariffs on Chinese imports were implemented, and China reacted. The immediate result of Trump's tariffs was Mexico's agreement to deploy thousands of soldiers at the border. Trump stated that as much as Canada and Mexico want to play games, we will continue. Trump remarked that the emerging trade war may be 'painful,' but it is worth the cost. Heavy tariffs on imported goods from China, Canada, and Mexico were announced. The U.S. President emphasized the idea of relocating Gaza refugees to Egypt and Jordan.