SOMETHING
Emerging Technologies: A TIME TO ENGAGE WITH OUR POLITICAL LEADERS By Greg Burkart, Duff & Phelps, a Kroll Business
I
n a recent edition, Well Servicing Magazine published an insightful article about the importance of new environmental, social and governance (ESG) technologies to the energy industry.¹ As an example of the strides being made in the industry, the author mentioned that recent hydrogen demonstrations have been garnering attention as an alternative fuel source in reciprocating engines and in dual fuel and natural gas applications.¹ Moreover, the Energy Workforce & Technology Council’s (the Council) ESG certification process gives participating companies a year-long opportunity to explore and adopt new technologies that lead to lower carbon and overall emissions. The remaining challenge, as with most new technologies and R&D, is cost. While there has been mixed sentiment from the current
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Well Servicing Magazine/December 2021
administration and Congress toward the fossil fuel industry, there have been recent examples where our political leaders have sought to assist the industry with exploring and adoption of new technologies. One bipartisan example is the United States Innovation and Competition Act (USICA).2 The $250 billion authorization bill, passing the U.S. Senate on June 8, 2021, was originally conceived to assist semiconductor companies, but later expanded to include a collection of multi-sectoral science and technology initiatives. The expansive USICA includes the Strategic Competition Act of 2021.3 Title I pertains to investing in a competitive future with subtitles focusing on authorizations to assist U.S. companies with global supply chain diversification and management as well as global infrastructure and energy development.4 The Strategic Competition Act has a dual purpose of countering predatory lending and financing by China in the energy sector in develop-
