Biden's climate steps could have big impact on energy firms

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Requiring oil and gas companies to address methane leaks along the production line sends a clear message that our Environmental Protection Agency is no longer giving out free passes to pollute.” Trump’s decision to loosen methane regulations was opposed even by BP, Chevron Shell and ExxonMobil and other major oil and gas companies because they had invested heavily to reduce methane emissions. FUEL ECONOMY The new administration intends to undo one of Trump's biggest changes: His gutting of Obama-era fuel economy and greenhouse gas emissions standards for automobiles through 2025. The Trump administration cut Obama-era standards for model years 2021 to 2025 from 4.7% annual fuel efficiency gains to 1.5%, weakening one of the nation’s biggest efforts to fight climate change. Biden's plans to apply a swift hammer to Keystone XL and reverse Trump administration roll-backs indicate that “any hope of Biden moderating his posture towards the industry once in office are now dashed,” said Fawcett, the analyst for S&P Global Platts.