From its earliest days, the new president of the United States, Joe Biden, has taken spectacular action on the environment. A revolution. Today, the new administration is expected to announce the ban on oil and gas drilling on all state-owned lands.
Joe Biden too Blocked giant Keystone XL pipeline project, in the northern United States. Once again, it suspended the exploitation of the underground resources of the Alaska Natural Park, in the northeast of the country, which had been authorized by the Trump administration in 2017. All hydrocarbon drilling permits were also suspended for sixty days, the time for which the projects are reevaluated by the new administration.
Is a thunder for the US oil industry., the most powerful in the world, which had been spoiled by Trump and also by Obama, who had authorized the exploitation of gas and oil from shale, very polluting.
New ecological course
This is the new direction, at least for the federal state, some federal states, California for example, had adopted it for a long time. With these measures, new much higher standards will be enacted for industry and in particular for the automotive sector, comparable to those currently in force in Europe, to limit carbon emissions.
At the same time, the president, following the recovery plan that he is negotiating with Congress, plans to implement a vast program for the energy transition: 2 billion dollars or 1.7 billion euros, to develop renewable energy, batteries and electric cars.
More transparency for listed companies
American businesses will be forced to embrace these changes, from consumers, government, and even investors alike. The new head of the stock market authority, who has just been appointed by Biden, is on a mission to change the regulations in the financial markets. Quite large publicly traded companies should now forced to publish accurate data on the pollution they produce, on its carbon emissions and its planned reduction, to inform investors.
They will also be informed about the social policy, the diversity policy of the companies. All of these measures had been blocked by the Trump administration. Sign of these new times, yesterday, the head of Black Rock, which manages 8,000 million euros of savings in the financial markets, announced that his funds would no longer invest in companies that will not commit be carbon neutral by 2050.
So it is a green revolution that is starting in the United States. And one might be surprised at the speed with which this country, a reputedly poor climate student, addicted to oil, is transforming its economy.