U.S. oil and gas companies will soon be facing a climate-conscious president who has vowed to transition away from the oil industry.
So you might expect a sense of existential dread in the oil world about President-elect Joe Biden. Instead, there’s a surprising amount of optimism.
The U.S. oil and gas industry has transformed over the last decade or so, as a remarkable shale revolution turned the country into the world’s top petroleum producer. Unlike President Trump, who is an ally of the industry, Biden has emphasized the devastating cost of carbon emissions for the climate.
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