Name: How climate and business woes are sinking an Oregon natural-gas project
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How climate and business woes are sinking an Oregon natural-gas project

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Illustration: Annelise Capossela/AxiosThe Trump administration recently touted its approval of America’s first terminal on the West Coast to export liquefied natural gas. There’s just one problem: It probably won’t be built.Why it matters: The project in southern Oregon faces political and business hurdles serious enough that those who are following it say it will be shelved. Its problems embody facing a once-promising sector that's now struggling under the weight of the pandemic and more.What they’re saying: “It’s not going to be built,” Sen. Jeff Merkley (D-Ore.) told Axios in a recent interview. “I’ve talked to a whole number of folks — several people who have been deeply involved in international finance of energy projects — and they don’t believe that the company can lock down the sales needed to justify the $6 billion investment.”For the record: The company behind Jordan Cove, Canada-based Pembina Pipeline Corporation, declined to comment. It will provide an update on the project during its second-quarter earnings call with investors .Driving the news: In early July, Energy Secretary Dan Brouillette announced a of the project. At that time, Brouillette said it “encapsulates what the Trump Administration has been working hard on for the past three years — providing reliable, affordable, and cleaner-burning natural gas to our allies around the world.”The big picture: With America becoming the world’s biggest producer of oil and natural gas, companies have raced to build massive, multibillion-dollar facilities to liquefy and ship natural gas all over the world. Several have in recent years, leading to a .Where it stands: But more than a dozen projects are still either awaiting or , according to . How it works: Jordan Cove’s struggles reflect the convergence and evolution of two national trends: Democrats and environmental activists increasingly opposed to natural gas, and oil and gas producers drilling their way into abundance — and therefore a glut and financial trouble.The intrigue: In our interview, Merkley said deciding to oppose the project — which in 2017 — was one of his “toughest examinations. I knew how much this infrastructure could do to that part of my state. I knew how many good-paying jobs would be in a $6 billion–$8 billion project.”What we’re watching: Whether the company pulls the plug — more likely when, given what I just laid out here — and which other companies seeking to export LNG do the same.Global: Total confirmed cases as of 3:30 a.m. ET: — Total deaths: — Total recoveries — — .U.S.: Total confirmed cases as of 3:30 a.m. ET: — Total deaths: — Total recoveries: — Total tests: — .States: in protest of De Blasio's coronavirus response — Local governments .Public health: 59% of Americans in NPR poll.Politics: after coronavirus recovery — Republicans push to .Sports: — .Health and Human Services Secretary Tuesday night he will lead a delegation to Taiwan "in the coming days."Why it matters: It's the highest-level visit by a U.S. cabinet official to Taiwan since 1979. Azar is also the first U.S. Cabinet member to visit the island state in six years. The visit has angered China, which views Taiwan as part of its territory. Chinese officials accused the U.S. early Wednesday of "endangering peace" with the visit, .A major explosion has slammed central Beirut, Lebanon, damaging buildings as far as several miles away and injuring scores of people.Driving the news: At least 100 people have been killed and over 4,000 injured in the blast —&nbsp;and the death toll is likely to rise, the Lebanese Red Cross said, . Prime Minister Hassan Diab said the explosions occurred at a warehouse that had been storing 2,750 tons of ammonium nitrate for the past six years.

Illustration: Annelise Capossela/AxiosThe Trump administration recently touted its approval of America’s first terminal on the West Coast to export liquefied natural gas. There’s just one problem: It probably won’t be built.Why it matters: The project in southern Oregon faces political and business hurdles serious enough that those who are following it say it will be shelved. Its problems embody facing a once-promising sector that's now struggling under the weight of the pandemic and more.What they’re saying: “It’s not going to be built,” Sen. Jeff Merkley (D-Ore.) told Axios in a recent...

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Amy Harder

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How climate and business woes are sinking an Oregon natural-gas project

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