Biden, America, and the oil industry

 

http://www.terrellaftermath.com/

What A Joe Biden Presidency Means For The Oil Industry  "Although the race hasn’t officially been called, it looks likely that Joe Biden will be the 46th President of the United States. There has been a lot of hand-wringing in the oil industry about the consequences of a Joe Biden win, so let’s discuss those today.

"Here is some context I like to use to frame the discussion. President George W. Bush was formerly a Texas oilman. His Vice President, Dick Cheney, was the former Chairman of the Board and Chief Executive Officer of the oilfield services company Halliburton HAL -0.5%.

"You couldn’t ask for a more oil-friendly administration. Yet U.S. oil production declined all eight years they were in office. The year before Bush was inaugurated U.S. oil production averaged 5.8 million barrels per day (BPD). In 2008 — his last full year in office — production averaged 5.0 million BPD.

"Barack Obama took office in January 2009. He had campaigned on combating climate change. He implemented lots of policies designed to encourage the use of renewable energy. He was often openly hostile to the oil industry, slowing down pipeline permits and placing more federal lands off-limits to drilling.

"What happened? U.S. oil production increased each year during the first seven years Obama was in office. The U.S. saw the fastest growth of oil production in history, as well as the largest expansion under any President." . . .

Joe Biden Finally Admitted He Wants To End The Oil Industry

U.S. green groups say honeymoon is over, turn up heat on Biden   "U.S. environmental groups that poured money and effort behind Democrat Joe Biden’s successful run for president are shifting to a new more adversarial role now that he has been elected, launching a pressure campaign to make sure he delivers on his promises to fight climate change." . . .

"While Biden united a range of groups from youth activists to labor unions behind his presidential campaign, he has already become the target of some green groups for considering cabinet picks with ties to fossil fuels. He will be under constant pressure in office to move fast on his environmental agenda - potentially more than ex-President Barack Obama was during his tenure.

“The honeymoon ended at the altar when the networks pronounced Biden president-elect,” said Jamie Henn, director of environmental group 350.org’s Fossil Free Media, which opposes the fossil fuel industry. “It’s Biden’s call if he wants that pressure with him or against him.”