Biden’s recent infrastructure plan may also have implications for US refiners
US downstream faces emissions scrutiny
Biden’s low-carbon pledge could mean tighter regulations and punishment for serial emitters
US environmental policy has dramatically shifted under Joe Biden, with the country rejoining the Paris Agreement and the president pledging to halve emissions by 2030. The energy sector’s entire value chain will need to be transformed to achieve these ambitious decarbonisation goals, meaning the downstream sector will not go unscathed. Tackling methane emissions is among the most crucial challenges to both the Paris Agreement and domestic climate ambitions. These emissions contribute around 40pc to the global heat-trapping effect of greenhouse gases, and methane’s 20-year global warming potential is about 84 times that of CO₂. “There is much more bilateral support for reducing methane
Also in this section
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!
17 December 2024
Structurally lower GDP growth and the need for a different economic model will contribute to a significant slowdown
17 December 2024
Policymakers and stakeholders must work together to develop a stable and predictable fiscal regime that prioritises the country’s energy security and economy
