Democratic presidential candidate Joe Biden proposed a $2 trillion clean energy and climate change package on Tuesday, a plan that would overhaul transportation, electricity, and heavy industry. Some of the highlights include making the entire electricity sector 100 percent carbon-free by 2035, retrofitting four million buildings over four years, building 500,000 EV recharging stations, and funding for researching a variety of carbon capture and storage as well as advanced nuclear power technologies. The package is significantly more aggressive than one he proposed earlier this year during the primary, which called for $1.7 trillion over ten years, with a goal of reaching net-zero emission by 2050. This new plan calls for $2 trillion over four years, and brings the electricity component of the net-zero goal forward to 2035. Moreover, there is a lot of focus on environmental justice – indeed, an entirely additional plan – in recognition of the seismic shift in the political landscape in the wake of the George Floyd protests.
Oil Price 15th July 2020 read more »