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CERAWeek: leaders discuss the relevance of bipartisan infrastructure bill

CERAWeek

On CERAWeek Conversations, an on-demand content and part of the upcoming CERAWeek by IHS Markit, industry leaders discussed the relevance of the bipartisan infrastructure bill, which turned into law a few weeks ago president Joe Biden.

Firstly, leaders for both the oil and gas industry and renewable energy talked about the significance of the recent bipartisan infrastructure legislation; what it means for the future of their industries, and the United States’ energy position.

In a conversation with Daniel Yergin, vice chairman, IHS Markit; Mike Sommers, president, and CEO of the American Petroleum Institute (API); and Heather Zichal, CEO of the American Clean Power Association; discussed the legislation and agreed that it was the largest infusion of federal investment in the nation’s infrastructure in a generation.

Moreover, Zichal remarked that the bill truly became a bipartisan issue; demonstrating how energy can be an opportunity to leave political differences behind and work towards a better future for all.

In addition, Sommers and Zichal further discussed on CERAWeek Conversations the strong interplay between enhanced infrastructure and energy; what it means for their respective industries. “One of the most important components of this bill is that there was recognition by the passage that oil and gas are going to play a very significant role in the future.”

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Plausible alliance proposed at CERAWeek Conversations

He also remarked. “We have to fund infrastructure that supports that oil and gas future that we know is going to be there.” On the other hand, Zichal stated that the investment in renewable energy transmission and the energy grid stood out. As we reported previously, the one trillion Infrastructure bill considered up to $73 billion for clean energy.

Indeed, ensuring that energy will be able to get from where it is to where it needs to be is a vital component of the bill; Sommers and Zichal agreed.

Sommers added. “We need to continue to invest in that infrastructure. But increasingly, every pipeline that we try to build or that we try to improve has become a political issue. I do think this is an area where ACP and API can come together to form an alliance; I suspect as you start building out high-powered transmission lines that it’s going to be a huge challenge to get that permitting process done.”

Finally, Zichal commented. “It’s great that we all think we should triple the deployment of clean energy to meet our climate goals. But if we can’t get the permits to do that and we can’t get at a state, federal and regional level the green lights to make these investments, we’re going to hit grid saturation in some portions of the country.”

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