Joe Biden is now officially president-elect after securing a win in natural gas-rich Pennsylvania despite the fight over fracking we've heard so much about these last long weeks.
S&P Global Platts Analytics predicts a muted production impact if Biden bans new federal drilling permits, putting up to 1.1 million b/d of oil output and 3.7 Bcf/d of gas output at risk by 2025.
On this special episode, we take a look at the implications ahead for energy and climate policy with Washington analyst Kevin Book, managing director of ClearView Energy Partners.
We go through two key scenarios: what a Biden White House will try to accomplish if he has the cooperation of a Democratically controlled Senate and how he might have to narrow that down if Republicans hold onto power in the chamber.
Book walks us through the many policies that Biden can tackle through executive action. And we ask him if he expects Biden to end new federal drilling permits, yank the Keystone XL heavy crude pipeline permit, cancel leasing in the Arctic National Wildlife Refuge and strike a quick interim Iran deal that brings sanctions relief.