New President: The Main Changes in Energy Policies

At a high level, not much but one will have a more aggressive path for renewable energy. The current President, Donald Trump, took a leadership position with the United States becoming the world leader in the production of oil and gas thanks to the boom in shale. The former Vice President, Joe Biden, pledged to continue to support the industry but also and, more importantly, invest $2 trillion dollars to accelerate a transition from fossil fuels to renewable energy. This is a true win-win for our country, a boom to the renewable industry and a cleaner environment for our children. Both parties agree that support for fossil fuels has a significant economic impact but more importantly, the country is less dependent on foreign sources.

The World Economic Forum in 2019 presented a transitional path that the Administration elect may use as a blueprint.

New England is a clear example of how electric generation has transitioned from coal and heating oil to natural gas (burns cleaner) and is on an aggressive path to add more solar/wind generation over the next two to three years. The ISO New England claims that over 20,000 MWs will be online by 2030; with two-thirds being from wind generation. Another interesting trend is that eyebrows were certainly raised last month as clean energy producer NextEra topped the market capitalization of the oil and gas giant ExxonMobil.

It is my opinion that the electric and natural gas rates will hold steady regardless of who is in the office of the Presidency, but there will be an uptick in the renewable space that will add more employment opportunities and of course a thankful mother earth.

As always, stay safe!