Joe Biden, the newly elected US president, signed 17 executive measures on his inauguration day, which include the return to the Paris Agreement, as well as indefinitely suspend the Keystone XL pipeline system project with Canada. How will these environmental and environmental protection measures impact the energy of the US?
For the 5 executive orders and 2 executive actions, Biden has overthrown the Trump’s numerous environmental policy as well as the exit from international organizations and agreements, who decided not only to return to the Paris Agreement, WHO, and canceled on the Keystone XL oil pipeline system project, but also prohibited the excavation of petroleum from the Arctic National Wildlife Refuge, as well as the suspension of new drilling well leases or licenses for 60 days, and the conservation of 30% of soil and water resources in the country.
The Environmental Protection Agency had objected to the Keystone XL when the administration of former US President Obama implemented an environmental impact assessment on the oil pipeline system that measures at approximately 2,735km from Alberta of Canada to the Gulf Coast of Texas, and the project was also opposed by environmental protection groups and the Native Americans. Obama eventually decided to suspend the project, before it was reinitiated by Trump.
Biden has now once again issued an executive order in which indefinitely suspends this particular project. Matt Casale, Director of Environment Activities for the non-profit organization Public Interest Research Group (US PIRG), gave recognition for Biden’s measures, and commented that investors should invest in infrastructures that are able to transform the US into a cleaner and healthier country, instead of the facilities that were usually associated with the unclean energy era in the past.
Richard Prior, President of Keystone XL, expressed his regret over this matter, and pointed out that the project was designed in line with the environment and community requirement when it was proposed more than a decade ago, and he is confident that this project can become the safest and most trustworthy oil pipeline solution since the impact on the environment has been reduced to the lowest level. TC Energy, responsible for construction works, also announced its plan in achieving zero carbon emission in 2023, and guarantees the comprehensive usage of renewable energy by 2030.
The indefinite suspension also indicates that more than 1,000 construction job opportunities will evaporate in the future, for which has been condemned by the American Petroleum Institute (API), where the CEO Mike Sommers commented that the specific project is the safest and most eco-friendly method of energy transportation, and a full recovery of the economy is unreachable unless there is another reliable source and energy.
The announced measures are merely the first step for Biden, who is likely to recover a series of eco-friendly implementations next. Many experts believe that the new policy of the new president will help the US in achieving ambitious climate targets, and further expand the penetration of renewable energy and propel job opportunities. However, some believe that the rigorous regulations are impeding the progress of companies who are recovering from the pandemic, which once again lowers the demand for fuel cells.
Analysts believe that the decelerated mining procedure will instead affect the US$2 trillion Green New Deal proposed by Biden during his election campaign, since metals are required by electric vehicles, solar energy, and other green technology, and that Biden had previously stated that the two parties should work together on establishing a domestic supply chain for lithium, copper, rare earth, nickel, and other strategic materials, which had been imported from China and other countries in the past.
(Cover photo source: shutterstock)