US President Joe Biden, sworn into office on January 20, 2021, prioritized climate and clean energy issues during the election season. Now, just a few months in office, President Biden and his administration have started delivering on some of the promises made on the campaign trail. Their actions on climate change, clean energy and greenhouse gas (GHG) reduction will clearly have lasting implications for O&G companies—and the larger energy transition.
Accenture has analyzed the likely impact of the new administration’s positions and policies on the energy industry—looking specifically at what the proposed policy changes will mean to the energy market as a whole and to the competitiveness and operating models of O&G players. While the consequences of some policy elements will be minimal, others will require companies to take bold and fast action.