Federal fossil fuel leasing would be halted for at least a year.
Bloomberg said, drillers would likely need to rely on hydraulic fracturing to produce fuel.
Industry leaders are making responsible energy development a priority.
Occidental Petroleum Corp. plans to shift toward a carbon-neutral production model, it chief executive said on Sept. 12, but new U.S. laws are needed to support technologies designed to fight global warming.
Energy scholar Robert Bryce offers an unabashed view of the shale revolution, climate change and the future of energy. Spoiler alert: don’t expect oil and gas to disappear anytime soon.
Not all in the industry are in favor of the Trump administration’s rollback, and the expected litigation will put operators into limbo again.
Methane accounts for about 10% of U.S. greenhouse-gas (GHG) emissions. Of this, one-quarter is from the natural gas industry.
The Massachusetts senator said she would sign an executive order on her first day in office for a "total moratorium on all new fossil fuel leases including for drilling offshore and on public lands."
If no new climate policies are implemented, oil demand could plateau at around 110,000 MMbbl/d from around 2030, according to the study.