(Bloomberg) -- U.S. President Joe Biden's plans to accelerate the transition away from fossil fuels and cut emissions is a “prayer,” not a workable policy, said Charif Souki, chairman of natural gas export project developer Tellurian Inc.
The transition to cleaner sources of power will be more difficult than most realize, meaning that fuels such as natural gas will still be needed to meet growing global demand for energy, Souki said Monday in a Bloomberg Television interview. U.S. energy policy also doesn't reflect that the nation is now a major exporter of liquefied natural gas and petroleum products, he said.
“We don't have an energy policy consistent with the needs of the world today for additional energy and the need to deal with climate in a serious way,” Souki said.
Tellurian is securing financing for the first phase of Driftwood LNG, a $12 billion gas export project in Lake Charles, Louisiana, that Souki says will be under construction by the second quarter of 2022.
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