The Biden administration has sent conflicting messages to the U.S. oil and gas industry. On the one hand, Biden has promised to set the U.S. on a course of eliminating U.S. oil and gas over the next two decades. He has said that his long-term goal would be to “shut down” oil and gas production as part of his climate change strategy. He has also canceled pipelines, reduced drilling on public lands, and instituted tough new environmental standards that raise the cost of drilling. His new climate change legislation imposes new taxes on the oil and gas industry.