Among many executive actions signed on Inauguration Day to sweep Trump policies out the door along with the man himself, President Biden rescinded approval for the Keystone XL oil pipeline. Keystone XL, according to Biden’s top climate policy adviser Gina McCarthy, “was not consistent with addressing the climate crisis to the depth and scope that we are planning to address it.”
Keystone XL has now played the role of political football for a full decade, and Americans can be forgiven for having forgotten the project’s details.
Both Republicans and Democrats are pushing back on comments Democratic presidential candidate Joe Biden made about “transitioning away” from the oil industry.
At the presidential debate Thursday night, Biden said, “I would transition away from the oil industry, yes. The oil industry pollutes, significantly. It has to be replaced by renewable energy over time.”
Over the next two decades, oil and gas production is projected to account for 68 percent of energy consumption in the U.S. and will play a key role in the energy transition to a low carbon future, according to a new report published by the U.S. Department of Energy.
Natural gas is increasingly powering plants to produce electricity, but oil and natural gas are revitalizing the U.S. petrochemical industry, growing the liquefied natural gas industry, and boosting high-tech materials, the report states.