API Considers Support To Put A Price On Carbon Emissions
Last week, it was reported the American Petroleum Institute (API) is considering supporting a market-based carbon pricing policy according to a Reuters report this week.
API did not give specifics on whether or when the group would formally endorse a price on carbon but said it has been “focused on supporting a new U.S. contribution to the global Paris agreement,” said API spokeswoman Megan Bloomgren.
Meanwhile, the Biden Administration’s move to electrify the transportation sector will likely run into hurdles between conservation vs green energy.
Biden has vowed to set aside at least 30 percent of federal land and coastal areas for conservation, triple current levels.
However, to grow the EV battery market, it will need those areas to mine lithium and other minerals, thereby putting two environmental constituencies at odds.
Unless the Biden Administration changes course, the future of mining will likely depend on China to mine rare minerals even though the Administration has called the reliance on China a national security threat.