Balance Eludes US on Energy Security, Transition

Copyright © 2022 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

Surging oil prices amid inflation and Russia’s invasion of Ukraine have amplified energy security issues globally, posing another hurdle for countries trying to navigate long-term clean energy transition goals. But nowhere has the pace toward an energy transition appeared more muddled than in the US, even with the Biden administration's embrace of a bold climate agenda. Juxtaposed against the track taken by other major oil and gas producers Norway and Canada, Biden’s climate goals have been choked by hyper-polarized political discord, making for a rockier transition pathway. Biden officials have been clear that the administration wants to see short-term oil and gas supply ramp up to address the price surge while remaining committed to an accelerated long-term transition to clean energy. US Energy Secretary Jennifer Granholm recently said that “only clean energy” offers a “viable and medium- and long-term solution” to energy security pressures like the Ukraine crisis. But any messaging from the administration that near-term energy security actions can co-exist with transition goals has gotten lost in translation amid intense polarization, particularly around climate and energy.

Low-Carbon Policy, Oil Prices, CO2 Emissions, Carbon Capture (CCS), Electric Vehicles
Europe's portfolio LNG players look best placed to capitalize on the continent's need to replace Russian gas.
Thu, May 19, 2022
Germany's economy minister appeared to express support on Monday for the idea of capping the prices that buyers pay for Russian oil.
Mon, May 23, 2022
A Labor party victory in federal elections is expected to have a limited impact on Australia's oil and gas industry.
Mon, May 23, 2022