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Here’s How Joe Biden’s Climate Plan Could Affect the Oil and Gas Industry in Texas
Bracewell Policy Resolution Group Senior Principal Frank Maisano described to Austin American-Statesman reporter Madlin Mekelburg how President-elect Joe Biden’s ambitious environmental agenda affects more than the big energy players in Texas.
“But this oil and gas industry, if you think about the BPs and the Exxons of the world, is much different from what Texas knows as the oil and gas industry,” said Maisano. “The oil and gas industry in Texas is certainly these big energy players that are based in Houston and have refineries, but at the same time it is thousands and thousands of small business-supply chain businesses, wildcatters and guys who are running around West Texas producing oil.”
The Biden administration has outlined an ambitious environmental agenda, centered around a goal of “transitioning away” from the fossil fuel industry. For smaller operations, complying with new regulations could come with additional expenses that, in some cases, could push companies out of business.