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.
U.S. President Joe Biden unveiled a $2 trillion infrastructure plan that includes hundreds of billions of dollars to boost the market for electric vehicles, renewable power and advanced clean energy technologies, while stripping away subsidies for fossil fuels.
The plan also includes $16 billion to plug abandoned oil and gas wells.
The plan to expand the nation’s fledgling offshore wind energy industry is part of President Joe Biden’s broader effort to eliminate U.S. greenhouse gas emissions to fight climate change.
In a new initiative by Mexican President Andrés Manuel López Obrador, a copy of which was seen by Reuters, set out a series of measures to strengthen state influence over the oil and gas industry.