Biden's Plans For The Energy Industry Should Terrify Americans | Climate Dispatch

Biden's Plans For The Energy Industry Should Terrify Americans | Climate Dispatch

"...it won’t be until the economies in Europe, Asia, Africa and the U.S. are fully open and recovered that the O&G (oil&gas) industry can again fully stretch out into a comfortable stride.

...So where is the industry left under a Biden administration? 

Let’s look at several areas:

• Paris Climate Accord: A Biden administration will immediately re-enter the Paris Climate Accord. By all accounts, this will be done via an executive order signed on inauguration day.
• Legislative gaming is of course ahead, led by the thousand-year-old House speaker, Nancy Pelosi. The Democrats will pass loads of “green” legislation to support the accord’s climate goals. However, because of American natural gas development, the U.S. has already delivered levels below those outlined in the accord.
• Federal Land: Obviously, permits for drilling on federal land are legitimately threatened under a Biden administration. According to industry experts, about seven percent of domestic assets are located on federal land.
• The threat of “ending fracking” was promised during both of Biden’s debate appearances and his limited interactions with young children and sycophant media at ice cream stops during his Weekend at Bernies-themed campaign...
• Regulatory Environment: The favorite tool of Democrats is regulation. Regulations always cost industry money...Read all.