The 46th United States President Joe Biden, has passed a regulation on limiting the production of oil, gas and coal in order to reduce global climate damage. However, this new rule has certainly sparked various polemics from various circles.
Meanwhile, Biden also asked federal agencies to remove subsidies for fossil fuels. However, it is not clear which subsidies will be removed under the order.
In the US, many industrial tax breaks must be approved by Congress. Certainly, Biden said he would ask Congress to end the US $ 40 billion in subsidies through law.
He said his goal was to achieve a completely carbon-free electric energy sector by 2035. He also promised to help revitalize the societies’ economies of coal, oil and gas, and power generation.
Employers’ Views on the Biden Rule
Meanwhile, Chief Executive of Energy Corporation Hess Corp in the US said the Biden administration must keep in mind the impact of its climate measures on jobs and energy security. The same thing was also said by Abraxas Petroleum Corp. CEO Bob Watson, who saw Biden’s actions will not help the economic recovery.
Republican Senator John Barrasso of Wyoming, a state dependent on coal, oil and gas, said banning fossil fuels would do nothing to tackle climate change. Energy producers, he said, would look for other markets.
“Producers will go elsewhere, most likely outside the state or overseas,” he said.
Even so, environmentalists welcomed Biden’s move as a bold move. They called Biden serious about restoring US leadership on climate solutions.
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