Asia is one of the few remaining growth markets for gas. The fossil fuel industry and its proponents are pushing to develop $379 billion of gas terminals, pipelines and power plants in Asia over the next decade. Roughly three-quarters of all Liquified Natural Gas (LNG) import terminals in development globally are planned for Asia. This aggressive buildout ignores a simple truth.
Just days after the ending of the landmark climate talks in Glasgow, where Joe Biden promised to lead the world on climate action, the President’s administration offered the largest ever auction of Gulf of Mexico offshore drilling rights.