The U.S. oil and gas industry has been fretting about the implications of a Biden Presidency on the sector in view of Joe Biden’s energy plan to favor renewables development and ban new oil and gas leases on federal lands. Yet, oil industry executives and professionals have said in recent days that a President Biden would not be as devastating to U.S. oil and gas as doomsayers fear. Sure, Biden’s plan to fight climate change with a pivot to renewables and a pledge for net-zero emissions in the power sector by 2035, as well as a ban on fracking on federal lands, will impact the level of U.S. oil and gas production in the coming years. However, the ambitious climate plan of a Biden Administration will likely have to be watered down, especially if Republicans keep the Senate majority, with this race to be decided in January run-offs in […]