American Oil and Gas Reporter - October 2020 - 59

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Election2020: Industry Analysis
In its 2020 Annual Energy Outlook, the U.S. Energy Information
Administration projects U.S. consumption of both crude oil and natural
gas will continue to rise through 2050. Do you think (Biden/Trump)
believes American interests are best served by meeting domestic energy
demand with domestic production, to the extent possible, and if so, what
policies do you think his administration might recommend to ensure an
adequate supply of both crude oil and natural gas?
Pennsylvania is important for Biden's election
bid, and not only because he was born there.
The state holds 20 Electoral College votes
toward the 270 it takes to win the presidency. While
the state supported President Trump in 2016, Biden
has maintained a narrow but significant lead throughout
the 2020 cycle.
Biden may be treading lightly on the state's oil
and gas interests out of electoral caution. He also is
speaking there a lot. On Aug. 31, Biden clearly emphasized that he would not "ban fraccing." On Sept.
17, he called oil and gas "an important business."
From our perspective, an outright fracturing ban is
somewhere between impracticable and illegal. A
Biden presidency could pose many risks to the sector,
but probably not that one. And Biden's affinity for
U.S. trade unions gives him a reason to prefer domestic
production as an alternative to imported fossil fuels.
But even in his Pennsylvania speeches, Biden has
emphasized a 2050 "net zero" target for the whole
economy. He may not welcome a sudden oil and gas
shortage, but he intends to encourage a transition,
and as noted, an administration may consider multiple
pathways to that end short of a de jure "ban."

B

It should come as no surprise that America
has become the world's dominant energy producer under the Trump administration. While
we used to depend on hostile, unstable nations for our
energy, President Trump set our nation on a path
toward national security and energy independence.
We need to support energy infrastructure: pipelines,
refineries, and storage and export facilities. Trump's
National Environmental Policy Act modernization
rule is a good move in this direction, and more can
be done to clear the way for growing our domestic
energy production.
We must not allow special interest groups with
anti-fossil-fuel agendas to block this development
based on a fictitious, issue-driven agenda. We should
continue rolling back costly and burdensome regulations, allowing American businesses more flexibility
to grow, innovate and harvest the oil and natural gas
needed to power our economy.

T

OCTOBER 2020 59



American Oil and Gas Reporter - October 2020

Table of Contents for the Digital Edition of American Oil and Gas Reporter - October 2020

Contents
American Oil and Gas Reporter - October 2020 - Intro
American Oil and Gas Reporter - October 2020 - 1
American Oil and Gas Reporter - October 2020 - 2
American Oil and Gas Reporter - October 2020 - 3
American Oil and Gas Reporter - October 2020 - 4
American Oil and Gas Reporter - October 2020 - Contents
American Oil and Gas Reporter - October 2020 - 6
American Oil and Gas Reporter - October 2020 - 7
American Oil and Gas Reporter - October 2020 - 8
American Oil and Gas Reporter - October 2020 - 9
American Oil and Gas Reporter - October 2020 - 10
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https://www.nxtbook.com/nxtbooks/aogr/202412
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