The Willow project is just the latest development in the Biden Administration's complicated, evolving relations with the industry
as oil companies resisted the high costs of drilling more when they were already making solid profits.
“You have the skill-sets and knowledge to build some critical technologies at scale,” Energy Secretary Jennifer Granholm told the crowd at CERAWeek. “You now have 10 years of IRA carrots you can take to bank.” To be sure, even after the Willow approval, many areas of conflict remain. Just last week, Biden proposed axing fossil fuel subsidies as part of his budget proposal. . And the industry is lobbying on a range of rules and regulations, not to mention the details of the IRA is implemented., the reception to the administration’s full court press at CERAWeek was surprisingly warm.
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