Presidential Election Signals Energy Policy Change
With Trump’s recent presidential re-election, the U.S. energy and environmental policy sector will see significant shifts. U.S. oil and gas are at the forefront of the Trump administration’s agenda—the main goals of which are centered around accelerating energy infrastructure projects, increasing oil and gas production, and ending the previous administration’s approach of picking winners and losers in the energy industry.
Facilitating energy infrastructure projects will be a top priority for the administration. Trump and his Energy Department are committed to expanding pipelines, part of a larger strategy that focuses on removing onerous federal red tape. Speaking with Bloomberg, Dan Eberhart, CEO of Canary LLC said, “You are going to see offshore lease sales, you are going to see pipelines move much quicker, you are going to see fracking on federal lands and a mindset that is focused on lowering energy costs for consumers.” Fast tracking offshore lease sales, pipeline construction and overall energy production will be essential to energy independence.
Another essential aspect of the Trump administration’s energy agenda is the permitting process. This regulatory process which, under the Biden administration, has stalled projects for years, would be simplified, streamlining the path to approval.
Although liquefied natural gas (LNG) export facility permits were paused this year, the anticipated revival of LNG export permits is back on the table the U.S., which has seen a 400 percent increase in LNG exports from 2017 to now. A reversal would be critical for the nation’s global energy influence.
The main goal of the Trump administration will be to achieve energy security by shielding the U.S. from global market volatility. This is done with the help of promoting a domestic-first approach to energy production and reducing reliance on imports. If successful, this will pave the way for a more resilient and self-sufficient U.S. energy landscape, benefitting U.S. consumers across the country.
