Shell CEO supports Biden's climate initiatives
The head of Shell praised President Biden’s climate policies for promoting job creation and local supply chains.
Corbin Hiar reports for POLITICO.
In short:
- Shell CEO Wael Sawan endorsed Biden’s bipartisan infrastructure law and Inflation Reduction Act, highlighting their success in attracting capital across the U.S.
- Sawan stressed the importance of stability and predictability in climate technology incentives and LNG permitting for future energy investments.
- He also noted the role of LNG in transitioning to lower-carbon solutions and criticized absolutist views against fossil fuels.
Key quote:
"You’re creating jobs. You’re actually starting to anchor new industries. And over time, what you will do is you will create supply chains locally that are able to satisfy the demands of many of these industries."
— Wael Sawan, CEO of Shell
Why this matters:
Bipartisan support for climate policies from major industry leaders like Shell can enhance the stability and continuity of these initiatives. By focusing on domestic production and resources, President Biden’s policies not only support job growth but also enhance the resilience of the U.S. economy against global disruptions. This shift can help reduce carbon footprints associated with long-distance transportation and promote sustainability.
