The move by Washington state to stop sales of gas-powered cars comes as efforts to boost adoption of electric vehicles are accelerating over concerns about fossil fuels’ contribution to climate change.
Critics accuse the $16 billion provision in Biden’s proposed infrastructure package to plug abandoned oil wells across the U.S. of being a bailout for the oil and gas industry.
The initiative is part of President Andres Manuel Lopez Obrador’s efforts to strengthen state influence over the energy market at the expense of private capital.
Amount is nearly the level in President Biden’s infrastructure plan.
Hart Energy and Cornerstone have teamed up to bring you Energy Policy Watch. In this first installment, host Jack Belcher talks to Texas Railroad Commissioner Christi Craddick about the Railroad Commission’s actions in unprecedented times and lays out a vision for meeting oil and gas policy challenges of the future.
West Virginia senator walks a political tightrope with infrastructure bill’s push against fossil fuels.
Instead of a carbon tax, Vicki Hollub, CEO of U.S. shale producer Occidental Petroleum, says she prefers the use of tax credits incentivizing the development of carbon capture projects.
The bill authorizing $8 billion to plug and clean up abandoned oil wells nationwide is sponsored by Representative Teresa Leger Fernandez, whose home state of New Mexico is a major oil and gas producer.
Unwinding tax breaks on fossil fuel companies could face opposition from Biden's fellow Democrats in the U.S. Congress from energy-producing states.
“A carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint,” says Occidental Petroleum CEO Vicki Hollub.