Why The Oil Industry Doesn’t Fear Biden – By Camila Domonoske (NPR) / Nov 23 2020
U.S. oil and gas companies will soon be facing a climate-conscious president who has vowed to transition away from the oil industry.
So you might expect a sense of existential dread in the oil world about President-elect Joe Biden. Instead, there’s a surprising amount of optimism.
The U.S. oil and gas industry has transformed over the last decade or so, as a remarkable shale revolution turned the country into the world’s top petroleum producer. Unlike President Trump, who is an ally of the industry, Biden has emphasized the devastating cost of carbon emissions for the climate.
Nonetheless, the oil industry sees the president-elect as open to compromise — and likely constrained by a Republican Senate.
“The gut reaction [to Biden’s win] is that this isn’t good news for the industry, but we’re actually cautiously positive,” says Jen Snyder, a director at Enverus, a company providing data and analytics to oil and gas companies.
Continue > https://www.npr.org/2020/11/23/935378223/why-the-oil-industry-doesnt-fear-biden
