OPINION: US President Joe Biden and congressional Democrats should never expect much support from the country’s oil and gas players, but the industry should perhaps summon a bit of gratitude for the backroom deal that ensured passage of the Inflation Reduction Act of 2022.

From the domestic industry’s standpoint, it could have been much worse.

The legislation signed into law 16 August includes several provisions related to oil and gas production that, overall, likely will have only a modest impact on the industry, and most of that will be a net positive.