The Biden Administration has Suspended Government Support for Overseas oal, Oil, and Natural Gas Projects.

A Directive, sent last week, to Embassies around the World, informed American Diplomats that U.S. Policy "will center on promoting clean energy" and avoid Financing for Fossil Projects in Conjunction with President Biden's overarching Agenda to Mitigate Climate Change.

“Our international energy engagement will center on promoting clean energy, advancing innovative technologies, boosting U.S. clean-tech competitiveness and providing financing and technical assistance to support net-zero transitions around the world,” the Document said.

The Policy makes Exemptions for certain Projects if it can be demonstrated that they support U.S. National Security or Foreign Policy, but it is especially Strict on Coal Projects, with support conditioned on the Capture of a Prospective Project's Greenhouse Gas Emissions.

“Engagements related to coal generation must be related to full abatement of emissions and/or accelerated phase out,” the Guidance said.

It added that the Government will Not impede American Oil and Gas Companies looking to Expand in the Global Market.

“As long as there is demand for fossil energy products, technologies, and services in global markets, the U.S. government will not stand in the way of U.S. companies that are ready and able to meet those needs,” the Document said. “The U.S. government will continue to help U.S. energy companies, especially small- and medium-sized businesses, achieve their commercial objectives without compromising global climate ambitions.”

The Guidance follows the Biden Administration's Commitment, announced at the COP26 Climate Conference last month, that it would Join more than 20 Nations and Stop Funding Overseas Fossil Fuel Projects by the End of 2022.










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