BP Exec Sees Complex U.S. Energy Regulatory Shift at Local, State Levels

A transformation is occurring at various levels across the U.S. regulatory landscape, and the outcome could dramatically alter the outlook for fossil fuels amid the energy transition, according to a BP plc executive.

“There is a lot going on” at the federal, state, and local levels of government,” BP Energy Co. CEO Orlando Alvarez said Tuesday at the LDC Gas Forum Southeast in Savannah, GA.

Alvarez cited the Infrastructure Investment and Jobs Act (IIJA) as one far-reaching federal policy move. IIJA, which President Biden signed into law in November, advances a variety of programs promoting low-carbon energy.

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In addition, Alvarez noted the...