Domestic energy prices would sharply increase if the U.S. conducts unrestricted exports of liquefied natural gas (LNG), the Department of Energy said in a long-awaited report released Tuesday.
The report comes nearly a year after the Biden administration announced a pause on new LNG exports, which surged after Russia invaded Ukraine and set off a scramble for other sources of European energy. The department announced the pause as part of an effort to determine the economic and environmental effects of exports.
The report determined that unregulated exports could lead to a spike of up to 30 percent in wholesale natural gas costs while also creating an........