It didn’t take long for President Joe Biden to proceed with undeniable stances on the oil and gas industry in the earliest days of his presidency. On his first day in office, the Keystone XL Pipeline, a project meant to deliver crude oil from Alberta’s oil sands, and something that had already been granted a permit by the prior president, Donald Trump, was quite publicly withdrawn. Also within his first week, President Biden re-joined the Paris Climate Accord, committing to “the most aggressive” carbon cut the United States could make, and he signed a climate-related executive order suspending new oil and gas leases on public land.
The list continued with a directive for the government to purchase electric cars, a timetable to eliminate net greenhouse emissions from power plants by 2035, and directing the Pentagon to make climate change an issue of national security.
It is a lot to consider for large investors who have been heavily invested — and may want to