President Biden jolted the energy and climate worlds by pausing liquefied natural gas export approvals, and in doing so stirred up several political and business risks ahead of the 2024 election.

The big picture: The Energy Department announced on Friday it would freeze new permits as officials reassess the climate, energy security and market effects.

Why it matters: The decision has already become part of Trump vs. Biden, the sequel. On Friday, the former president and presumptive GOP nominee released a statement bashing the decision.

A study from Cornell University released last November suggested that LNG is worse for the climate than coal. Little did anyone know at the time that this study would put the U.S. federal government in a dilemma at a time when the country leads the world in LNG exports.

The nature of the dilemma is of the sort that could put a quick end to that leadership. Either that or cost the Democrats some votes from environmentalists.

President Joe Biden’s pause on approvals for pending liquefied natural gas export terminals Friday was met with deeply divided responses, earning praise from Democrats and environmental groups while sparking fierce backlash from Republicans and industry groups.

Biden, for his part, said in a statement that the pause “sees the climate crisis for what it is: the existential threat of our time.”

Here’s an early look at the winners and losers from the project pause:

Five days after a train carrying vinyl chloride derailed and exploded near the Ohio-Pennsylvania border, crews ignited a controlled burn of toxic chemicals to prevent a much more dangerous explosion.

Thousands in East Palestine, a town of about 5,000 people, evacuated, and officials warned the controlled burn would create a phosgene and hydrogen chloride plume across the region. Phosgene is a highly toxic gas that can cause vomiting and breathing trouble, and was used as a weapon in the first world war.