Biden is aimed at drilling, subsidies for fossil fuels in a comprehensive climate impact

The Biden administration will on Wednesday announce a new set of executive measures aimed at combating climate change that will pause new oil and gas rents on federal land, reduce fossil fuel subsidies and strengthen measures to protect poor neighborhoods and minority areas from pollution, according to White House.

The orders will set the direction for newborn President Joe Biden’s climate change and environmental agenda and mark a drastic turnaround from his predecessor Donald Trump, who sought to maximize the country’s oil, gas and coal production by removing regulations and facilitating environmental audits.

Biden’s focus on climate change has pleased international partners and environmentalists, but upset Big Oil, which has argued that the measures will cost the United States millions of jobs and billions of dollars in revenue.

In the order, Biden will demand a break on new federal oil and gas agreements “as far as possible” and urge the Interior Ministry to review the programme’s climate impact and taxpayer benefits. He will also set a goal of conserving 30% of federal land and water to protect wildlife by 2030.

The orders will affect large areas of land in mostly western states, as well as offshore drilling areas that are mainly located in the Gulf of Mexico, which together make up about a quarter of the country’s oil and gas supply.

The word about the measure has received criticism from some states that are dependent on drilling revenues and the oil industry, which has warned that the cost will cost jobs and economic growth.

Biden will also direct federal authorities to “eliminate fossil fuel subsidies in accordance with applicable law,” according to a White House fact sheet. It was not immediately clear which subsidies could be removed under this order, given that many of the industry’s tax breaks have been approved by Congress.

The order also includes an announcement that Biden will host an international climate summit on Earth Day on April 22, the creation of new positions on climate change and a working group between authorities within its government, and measures to increase public procurement of clean energy from the United States. . and vehicles, increase science and help communities most affected by industrial pollution.

The orders aim to make up for several of Biden’s campaign promises to address climate change while addressing race and economic inequality.

The U.S. climate task force will be led by White House domestic climate policy adviser Gina McCarthy, while Biden’s climate envoy, former Secretary of State John Kerry, will lead the government’s international work on global warming, according to Biden’s administrative sources.

(REUTERS)