Under the Biden administration’s new rule, certain oil and gas facilities would be charged $900 per metric ton of “wasteful” emissions in CY 2024, $1,200 for CY 2025 and $1,500 for CY 2026.
Speaking at the annual U.N. climate summit in Baku, Azerbaijan, known as COP29, Woods described international climate negotiations as valuable opportunities for Trump to adopt pragmatic policies.
Citi analysts have forecast that Brent crude would average $60 per barrel next year driven lower by the energy policies of the incoming U.S. administration.