236
Lack of Support for New Projects in the Oil and Gas
Infrastructure Sector
As noted, the Biden administration will tighten investment conditions in new framing and drilling by enacting new laws, and any investment in the oil and gas infrastructure sector that conflicts with the Paris Environmental Agreement will be
opposed by the federal government. In 2017, Trump authorized the construction of
the Keystone oil pipeline. The pipeline is supposed to deliver Canadian oil to the
United States. The Obama administration had blocked the plan because of US commitments to combat climate change. At the time of the presidential campaign, Joe
Biden’s campaign had issued a statement announcing that if Biden wins the election, the construction of the Keystone oil pipeline will be stopped. The government
is expected to revoke the permit for the pipeline. Such a decision would be met with
dissatisfaction by Alberta officials (https://www.independentpersian.com 2020).
Given all of the above, the Biden government will face serious challenges in
maintaining its energy independence and reducing its dependence on foreign energy
sources. The United States was to export more than $52 billion worth of oil, LNG,
and coal to China in the first phase of a 2-year trade deal. The outbreak of the
Coronavirus and the two countries’ political and trade problems prevented the
agreement from being implemented in the first year. Biden’s winner in the energy
sector could be his view of renewable energy and the high potential of the United
States in this sector. If the Biden government returns to the Paris Agreement and
invests in renewable energy, it can greatly reduce greenhouse gas emissions.
6 Trump Energy Diplomacy
Lack of Support for New Projects in the Oil and Gas
Infrastructure Sector
As noted, the Biden administration will tighten investment conditions in new framing and drilling by enacting new laws, and any investment in the oil and gas infrastructure sector that conflicts with the Paris Environmental Agreement will be
opposed by the federal government. In 2017, Trump authorized the construction of
the Keystone oil pipeline. The pipeline is supposed to deliver Canadian oil to the
United States. The Obama administration had blocked the plan because of US commitments to combat climate change. At the time of the presidential campaign, Joe
Biden’s campaign had issued a statement announcing that if Biden wins the election, the construction of the Keystone oil pipeline will be stopped. The government
is expected to revoke the permit for the pipeline. Such a decision would be met with
dissatisfaction by Alberta officials (https://www.independentpersian.com 2020).
Given all of the above, the Biden government will face serious challenges in
maintaining its energy independence and reducing its dependence on foreign energy
sources. The United States was to export more than $52 billion worth of oil, LNG,
and coal to China in the first phase of a 2-year trade deal. The outbreak of the
Coronavirus and the two countries’ political and trade problems prevented the
agreement from being implemented in the first year. Biden’s winner in the energy
sector could be his view of renewable energy and the high potential of the United
States in this sector. If the Biden government returns to the Paris Agreement and
invests in renewable energy, it can greatly reduce greenhouse gas emissions.
6 Trump Energy Diplomacy