233
room for natural gas-fired power plants unless they continue to operate using expensive “carbon capture” technology (www.scientificamerican.com 2020). Biden’s $2
trillion plan to control global warming includes: (1) The need to impose severe
methane pollution restrictions on current and new oil and gas operations; (2)
Permanent protection of the Arctic National Wildlife Refuge and other areas; (3)
Prohibition of permitting new oil and gas operations on public lands and waters; and
(4) Modification of royalties (for oil and gas operations) in favor of climate costs
(https://www.nytimes.com 2020).
Emission
Biden has also promised to reduce US emissions to zero by 2050, which includes
targeting zero emissions by 2035. It would be difficult to achieve such a goal without a Democratic majority in Congress. Biden argues that climate change is a threat
to the planet and that the transition from fossil fuels to green energy could be an
economic opportunity, provided the United States moves fast enough to become a
leader in clean energy technology (https://www.wsj.com 2020a, b). The Trump
administration weaken or eliminate pollution reduction targets, including the
Environmental Protection Agency’s vehicle emission standards, and backed down
from the Obama administration’s clean-up program that required reducing power
industry pollution. Transportation and electricity together account for about half of
US greenhouse gas emissions. While European oil and gas companies, such as BP
and Royal Dutch Shell, have implemented strategies for global energy transitions,
American giants, including ExxonMobil and Chevron, have focused on the traditional energy business backed by the Washington-backed Trump presidency (www.
woodmac.com 2020a, b).
Transition to Green Energy
Traditionally, Republicans are more involved in oil themselves whenever they come
to power, while Democrats are usually less oil-oriented and more concerned with
environmental issues and alternative energy. While European oil and gas companies, such as British Petroleum and Royal Dutch Shell, have implemented strategies
for global energy transitions, American giants, including ExxonMobil and Chevron,
have remained focused on the traditional energy business under Trump’s presidency.
Washington received political support (www.cnbc.com 2020a, b, c).
The Trump administration acted to weaken or eliminate the emissions reduction
targets, including the Environmental Protection Agency’s vehicle emission standards and withdrew from the Obama administration’s clean-up program that
required emissions reductions in the electricity industry. Transportation and electricity together account for about half of US greenhouse gas emissions (www.npr.
org 2020). The Biden government will seek to return to the Paris Agreement. The
Biden Climate Plan
room for natural gas-fired power plants unless they continue to operate using expensive “carbon capture” technology (www.scientificamerican.com 2020). Biden’s $2
trillion plan to control global warming includes: (1) The need to impose severe
methane pollution restrictions on current and new oil and gas operations; (2)
Permanent protection of the Arctic National Wildlife Refuge and other areas; (3)
Prohibition of permitting new oil and gas operations on public lands and waters; and
(4) Modification of royalties (for oil and gas operations) in favor of climate costs
(https://www.nytimes.com 2020).
Emission
Biden has also promised to reduce US emissions to zero by 2050, which includes
targeting zero emissions by 2035. It would be difficult to achieve such a goal without a Democratic majority in Congress. Biden argues that climate change is a threat
to the planet and that the transition from fossil fuels to green energy could be an
economic opportunity, provided the United States moves fast enough to become a
leader in clean energy technology (https://www.wsj.com 2020a, b). The Trump
administration weaken or eliminate pollution reduction targets, including the
Environmental Protection Agency’s vehicle emission standards, and backed down
from the Obama administration’s clean-up program that required reducing power
industry pollution. Transportation and electricity together account for about half of
US greenhouse gas emissions. While European oil and gas companies, such as BP
and Royal Dutch Shell, have implemented strategies for global energy transitions,
American giants, including ExxonMobil and Chevron, have focused on the traditional energy business backed by the Washington-backed Trump presidency (www.
woodmac.com 2020a, b).
Transition to Green Energy
Traditionally, Republicans are more involved in oil themselves whenever they come
to power, while Democrats are usually less oil-oriented and more concerned with
environmental issues and alternative energy. While European oil and gas companies, such as British Petroleum and Royal Dutch Shell, have implemented strategies
for global energy transitions, American giants, including ExxonMobil and Chevron,
have remained focused on the traditional energy business under Trump’s presidency.
Washington received political support (www.cnbc.com 2020a, b, c).
The Trump administration acted to weaken or eliminate the emissions reduction
targets, including the Environmental Protection Agency’s vehicle emission standards and withdrew from the Obama administration’s clean-up program that
required emissions reductions in the electricity industry. Transportation and electricity together account for about half of US greenhouse gas emissions (www.npr.
org 2020). The Biden government will seek to return to the Paris Agreement. The
Biden Climate Plan