President Joe Biden has been quite aggressive in some of his actions that pertain to the oil and gas industry, such as banning drilling leases on federal lands and waters, stopping progress on the Keystone X-L pipeline, and elevating climate change to a national office in his government. Biden’s goal is net-zero greenhouse gas (GHG) emissions by 2050. This is one perspective. Daniel Yergin of IHS-Markit INFO spoke recently at Baker Hughes’ Energy Forward conference and addressed some of these things. Yergin, a Pulitzer Prize winner, has released a new book called The New Map. As a recognized expert in oil and gas, Yergin in his own gentle way elaborates on some of the key prospects of the oil and gas industry. Yergin has said the oil and gas economy across the world is an $87 trillion economy, implying that such a giant structure cannot be changed quickly and that oil and gas will be around for...read more...
SectorOil & Gas