David Blackmon at Forbes describes likely impacts on the oil and gas industry. He writes:
“Those likely executive order reversals include:
- Re-entry of the United States into the Paris Climate Accords;
- Re-entry of the United States into the Obama-era Iran deal, which would free up Iran to dramatically increase its exports and potentially impact crude prices;
- Trump’s order to end the Council on Environmental Quality’s guidance that all federal permitting decisions and NEPA reviews must consider climate change impacts;
- Trump’s order to disband the Interagency Working Group on Social Cost of Greenhouse Gases;
- ·Trump’s various orders designed to eliminate delays in federal permitting processes.”
And then there’s fracking:
“We can also expect a Biden presidency to follow through on his promises to ban hydraulic fracturing on federal lands and waters, which represent a very sizable percentage of overall U.S. oil and gas production.”
HT-RealClearEnergy