Biden's Infrastructure Plan Causes Mixed Reactions From Natural Gas & Oil Industry

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Biden's Infrastructure Plan Causes Mixed Reactions From Natural Gas & Oil Industry

Tue, 04/13/2021 - 10:23
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President of the USA, Joe Biden (copyright by Shutterstock/vasilis asvestas)
President of the USA, Joe Biden (copyright by Shutterstock/vasilis asvestas)

It’s not surprising that America’s oil and gas sector is not totally enthusiastic about President Biden’s $2.25 trillion American Jobs Plan which incorporates raising corporate taxes and, should it gain Congressional approval, designation of monies to facilitate the country’s transition from fossil fuels towards clean energy.

A key and novel feature of the American Jobs Plan is the integration of both climate and energy policy. This holistic approach in policymaking and implementation marks a distinct departure from previous administrations.

Whilst many energy lobby groups support objectives such as improvement in the range of incentives for capturing and storing carbon dioxide, they seek clarification of how hydrocarbons will fit into the President’s “build back better” mandate for the country’s infrastructure and economy.

For example, Texas Independent Producers & Royalty Owners Association President Ed Longanecker commenting on the plan states, “While ambitious and aimed in the right direction — bolstering America’s infrastructure – President Biden’s American Jobs Plan overlooks the backbone of America’s energy system: pipelines.”

One thing is clear, given the power of the fossil fuel lobby in Congress; President Biden is going to have a tough time passing the required legislation to implement his jobs and infrastructure policies.

Comments

Submitted by othon bueno (not verified) on Tue, 04/13/2021 - 14:44 Permalink

There are literally millions of miles of pipelines providing energy to America's vehicles but also for the land and air transportation, to provide energy to hospitals and homes just to note a few.
These pipelines have to be maintained just like the network of roads. And why not build new ones to replace the old, and gradually move towards the clean energy without penalizing the existing companies that have been the back bone of America's energy system.

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