Recently, the administration of Joseph Biden unveiled a program for economic recovery after the COVID-19 pandemic. It's called the American Employment Plan. And according to some observers, this plan will jeopardize the survival of the US gas industry.
Biden, once in the Oval Office, immediately made the transition from fossil fuels to renewable fuels at the forefront of his policy. energy sources. The reaction to these plans by the oil and gas industry has been mixed.
And this is understandable – the energy transition involves rapid decarbonization. And while the hydrocarbon industry signals that it supports decarbonization as such, it may have problems with its pace and cost. And the gas industry may disappear altogether.
Biden's administration is not going to keep his promises
In an analysis of the American Employment Plan, the ARBO consulting firm notes several key differences from what Biden and Harris promised during the campaign. For example, significant investments have been pledged to repair and modernize the US gas distribution system.
Biden also pledged investments in clean hydrogen. It could maintain the relevance of the gas pipeline network even after the cessation of natural gas production. However, the final plan is very different. It makes no mention of repairing and upgrading the gas distribution system at all.
In addition, Biden promised that this would create thousands of jobs. Now, the only jobs the American Employment Plan provides for the oil and gas industry are the conservation of abandoned oil and gas wells and the reclamation of depleted mines. Of course, this is a necessary and productive activity. But shutdown can hardly be considered long-term employment.
“Natural gas infrastructure is being built without using taxpayer dollars. The Biden administration and Congress must recognize the importance of encouraging continued investment to modernize and expand this infrastructure, ” stated to the American Natural Gas Association
However, this is not what the Biden administration intends to do. He seems to be focused on getting as much renewable energy capacity into action as possible as quickly as possible . And just as quickly reduce the share of gas in the structure of the country's energy consumption. This should be of concern not only to US gas workers, but also to energy consumers. : ///
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