Is America’s oil industry too big to fail? ...News

Russia Today - Economy
Is America’s oil industry too big to fail?
source : Russia Today ( News ) () 7
America’s oil and gas industry employs over 11 million people and is worth more than $1.6 trillion, making the energy transition more difficult than it may seem. The Biden administration is making strides in reducing the United States’ dependence on fossil fuels for its energy needs. The federal government’s post-pandemic plan involves hundreds of billions in financing for renewable energy and electric vehicle projects. But it might be harder to get rid of oil and gas than some would like to believe. In a recent report commissioned by the American Petroleum Institute, PwC described the oil and gas industry as a critical one for the Uni

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