(5:41) The Biden administration represents a significant shift in Energy policy from the prior administration. Robert Gephardt, Energy Sector Team Lead & Senior Analyst, discusses his views on how this could impact the Energy sector and what it means for Non-Investment Grade Energy, in particular. The Biden administration is likely to implement a wide variety of regulatory actions such as restricting leasing on federal lands, reinstating and expanding regulations around emissions and increasing fuel efficiency standards. On the legislative side, the Democrats are likely to focus on expanding incentives and investment in energy efficiency, renewable power generation and electrification of energy consumption.