What a difference a quarter makes.
Cornerstone releases its 2021 First Quarter U.S. Energy Issues Matrix a couple of weeks after President Biden took office, and there are many changes to note. The new Administration comes with sweeping policy changes and a slew of executive orders impacting climate change, offshore and onshore energy activity on federal lands, and funding for renewable energy, to name a few.
Notable additions to the High/High issues include U.S. Climate/Regulatory Policy, which includes the U.S. reapplication to rejoin the Paris Accord, and Federal Lands/OCS Access, CAFE Standards, and FERC Policy Realignment, which will occur this summer when the balance of power changes as a new FERC Commissioner is appointed. Other new, significant issues include Carbon Tax, Federal Clean Energy Policy, Increased Energy Efficiency Standards, NEPA, ESA, and NAAQS Application (more stringent standards), and Green Energy Tax incentives. We also anticipate new Environmental, Social and Governance regulations.