The announcements will also include a sweeping order to review all of Trump's actions weakening climate change protections, the revocation of a vital permit for the Keystone XL and a moratorium on leasing activities in the Alaska National Wildlife Refuge, Biden aids say.
Elected on a promise of a $2 trillion green energy plan, U.S. President-elect Joe Biden’s ambitions could be curtailed by political reality.
In fourth-quarter 2020, the administration ramped up its efforts to put rules into effect before Inauguration Day and avoid a Biden regulatory freeze.
The incoming Biden administration signals an acceleration in the energy transition, while fossil fuel producers count on a COVID-19 vaccine to help demand recover.
Canada published the draft Clean Fuel Standard this month, which is central to the ruling Liberal Party's commitment to cut greenhouse gas emissions 30% below 2005 levels by 2030. Here’s how it will work.
WTI, crude futures in the U.S., settled 38 cents, or 0.8%, higher at $48/bbl on Dec. 29, while Brent crude futures settled up 23 cents, or 0.5%, at $51.09/bbl.
The U.S. Environmental Protection Agency (EPA) on Dec. 28 said it was finalizing the first-ever proposed standards regulating greenhouse-gas emissions from airplanes.
Oil remains vulnerable to any further setbacks in efforts to control the virus, said Stephen Innes, chief global market strategist at Axi, in a note.
Oil prices dropped on Dec. 23 after an industry report showed an unexpected rise in U.S. crude oil inventories, and as President Donald Trump rattled markets by threatening not to sign a long-awaited U.S. COVID-19 relief bill.