Coming with the new year is a new president with a very different vision on energy than President Joe Biden, who campaigned on a promise to “end fossil fuel.”
President-elect Donald Trump is dismissive of the immediate “climate crisis” narrative that drove much of Biden’s energy policies. He promises to establish American “energy dominance” and focus policy on bringing down the cost of energy.
While Trump can overturn Biden’s industry-punishing executive orders and create a friendlier regulatory environment for the oil, gas, coal and mining industries, experts say there are economic and technical limits to what the outcomes of his policies will be. Looking ahead to 2025 and beyond, here’s what we might expect for energy and industry in the second Trump administration.
Market forces
During a speech at the Economic Club of New York luncheon in September, Trump said he would end the Biden-Harris administration’s “anti-energy crusade and implement a policy of energy abundance, energy independence, and even energy dominance.” This would include, he said, getting the price of gasoline down below $2 per gallon, which would decrease the cost of all goods and services.
“We have more liquid gold under our feet than any other country, including Russia and Saudi Arabia [and] will be using it. My plan will cut energy prices in half or more than that within 12 months of taking office. It will be an economic revival of our country like no one has ever seen before,” Trump said before his campaign proved successful in the November election. […]
— Read More: justthenews.com
