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President-elect Trump maps out new direction for US energy sector

09 November 2016

Having won the 2016 US presidential election in a monumental upset, Donald Trump’s statements anticipate a 180-degree turn in many US policy areas. At an October address in Gettysburg, Trump said he would make a contract with the American people that would erase traces of Barack Obama's presidency and set America on a protectionist, nativist, track.

Stock image
Stock image

Nowhere is this more apparent than in the energy sector. Whereas the Obama administration has for the most part been supportive of renewables, in two minds on oil and gas and against coal, Trump has said he will tear up environmental legislation and provide maximum support for the US fossil fuel sector in a bid to maximise the country’s energy independence.

The Republican President-elect has promised to cancel every "executive action, order and memorandum issued by President Obama".

Specific policy actions will include:
*  cancelling billions of dollars in payments to the United Nations climate change programs, with the funds redirected to pay for infrastructure projects in the US.
*  pulling out of the Paris climate change agreement.
*  lifting restrictions on fracking and boosting oil and natural gas production.
*  reinstating the Keystone XL pipeline, which was cancelled by the Obama administration.

Changes to trade agreements should also impact heavily on the energy sector.

He plans to renegotiate the North American Free Trade agreement with Canada and Mexico and cancel participation in the Tran-Pacific Partnership, a trade deal with 12 Pacific Rim countries.

He has also said he would renegotiate the deal between Iran and the West which eased sanctions against the Islamic Republic and which has allowed the country to resume large scale exports of oil and gas.

That said, many commentators are unsure whether Trump, who lacks any experience of government , will follow through on all his campaign pledges. He has quietly dropped his call to remove all undocumented immigrants from the US, for example.

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AN AMERICA FIRST ENERGY PLAN - DONALD J. TRUMP’S VISION

*  Make America energy independent, create millions of new jobs, and protect clean air and clean water. We will conserve our natural habitats, reserves and resources. We will unleash an energy revolution that will bring vast new wealth to our country.
*  Declare American energy dominance a strategic economic and foreign policy goal of the United States. 
*  Unleash America’s $50 trillion in untapped shale, oil, and natural gas reserves, plus hundreds of years in clean coal reserves.
*  Become, and stay, totally independent of any need to import energy from the OPEC cartel or any nations hostile to our interests.
*  Open onshore and offshore leasing on federal lands, eliminate moratorium on coal leasing, and open shale energy deposits.
*  Encourage the use of natural gas and other American energy resources that will both reduce emissions but also reduce the price of energy and increase our economic output.
*  Rescind all job-destroying Obama executive actions. We will reduce and eliminate all barriers to responsible energy production, creating at least a half million jobs a year, $30 billion in higher wages, and cheaper energy.

See link below for a continuation of the President-elect’s stated energy policy.



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