"President-elect Biden will take action - not just to reverse the gravest damages of the Trump administration - but also to start moving our country forward," Klain said in the memo. The country's COVID-19 death toll is soon expected to reach 400,000 while the economy has been facing a downturn. The US is facing multiple challenges as Biden inherits the nation from Trump. Other executive actions include extending a pause on federal student loan payments as well as halting evictions and foreclosures. Other plans include extending a pause on federal student loan payments, halting evictions and foreclosures, as well as mandating masks in inter-state travel and on federal property.īiden will seek funds of $1.9 trillion (€1.57 trillion) to revive the economy, which includes stimulus checks and other aid, as well as speeding up the vaccine rollout. Within hours of being sworn in, Biden is expected to use executive orders to fulfill many of his previous campaign promises - including: rejoining the Paris climate accord, and reversing Trump's ban on the entry of people from certain Muslim majority nations. "In his first ten days in office, President-elect Biden will take decisive action to address these four crises, prevent other urgent and irreversible harms, and restore America's place in the world," said incoming chief of staff Ron Klain, in a memo to senior staff. This was announced as the country anticipates violence by Trump supporters ahead of the Inauguration Day on Wednesday.īiden's executive orders would be related to the coronavirus pandemic, the ailing US economy, climate change and racial injustice in America. She said that the bottom line is the bark was worse than the bite: “The headline looks scary, but we don’t see any immediate impact from these executive orders.”įor those who are worried about your gasoline prices going up, this is definitely not the reason.Joe Biden's top aide announced on Saturday the incoming US president would sign "roughly a dozen" executive orders on his first day in office. Hence, Biden feels compelled to pursue more aggressive actions. I remarked that President Biden seemed to be going further left than President Obama on these issues, and she said that is probably because climate change is widely viewed as a more pressing problem now. In that case we could end up using oil that is produced with more associated carbon emissions than if it had been produced in the U.S. In the long run, she said that a ban on drilling on federal land could lead to more imports. She added that some states that could be most impacted longer term are New Mexico, Wyoming, North Dakota, and Colorado.
They expect to be able to execute on their federal lands program based on comments made in November.” For example, Devon Energy DVN has over four years of permit backlog and drilling inventory. Right now there are 7,700 unused permits. When I asked how companies might be affected, she explained “Companies have been stockpiling permits in anticipation of a move like this.
#DAY ONE EXECUTIVE ORDERS FULL#
They aren't looking at a full out fracking ban.” The executive order is a pause on new leases. The language on the Biden website discussed banning permitting on federal land. They were even a little bit softened from what was said during the campaign. “These executive orders were pretty well-telegraphed.
She explained that the orders were certainly not as bad as they seemed: A complete ban would have to be passed by Congress, and that looks like a longshot.įor a more in-depth interpretation of Biden’s recent executive orders, I spoke with Stacey Morris, who is Director of Research for midstream index and data provider Alerian. The order does potentially impact some future fracking operations, but Biden did reiterate before he signed it "Let me be clear, and I know this always comes up, we're not going to ban fracking."īut what Biden can’t do by executive order is an overall ban on fracking, because most fracking takes place on private land.
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