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The Energy Industry Under Biden

Now that we know that Joe Biden will be our new president, we can follow up with our previous blog and take a look at what the energy industry might look like in the next few years. It appears  that Biden plans on battling climate change with clean energy. This blog will continuously update as time and policies progress.

Clean Energy, Clean Economy

According to his own personal website, Biden plans to push for cleaner energy with the Clean Energy Revolution. In this policy, he addresses how the economy relies on the environment. Therefore, his policy will go in a clean economy direction. Specifically, eliminating fuel emissions by 2050. It’ll start by initiating clean energy in environments that need it most. Factories and refineries that heavily pollute the air will have to adapt to cleaner emission policies. Or, revamp into a clean energy facility. Soon, solar and wind energy will take over oil and coal. But, Biden plans to transition out, not completely shut down fossil fuels. It is important to remember the Clean Energy Revolution will be a hefty project. Due to the time and engineering this change requires, there’s time for compromise between Biden and the oil industry.

One of the rising issues in our environment is fracking. In the second debate, Biden claimed to want to put an end to fracking. Currently, fracking is causing tectonic plate problems in Oklahoma and other areas. Oil companies may have to find another way to drill, or restrictions may be placed on fracking.

 

Jobs

Because the policy’s main goal is to transition efficiently, oil & gas-based jobs will be replaced with clean energy jobs. And, the project will create new jobs for the energy industry, too. According to The NY Times, Joe is not sleeping on this- he’s already drafting ideas and plans. His administration is also considering creating a White House branch specifically for climate change. You can read here about what Biden plans to do for the energy industry’s job sector.

 

We hope to see the Biden administration leading the energy industry with care. Clean energy and a clean environment is important to us. But, we understand that many depend on petroleum and coal. With careful innovation and compromise, every factor of the energy industry can prevail under Biden.

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