In stark contrast to the Biden administration’s energy policies, former President Donald Trump recently pledged to spur American oil production if he earns a second term in the White House. From inauguration day forward, President Biden’s administration has been run by anti-oil staff with an eye to plugging wells, not developing them.
In an interview with Bloomberg Businessweek, Trump reminded viewers that America has “more liquid gold than anybody.” Trump state “We need energy at low prices. The advantage we have all over almost every country including the very large ones is that we have more energy than anybody. We have more of the real energy, the energy that works,” he said.
According to Oilprice.com, if he wins in November, Trump is set to overturn or at least try to dismantle many of President Biden’s energy and climate policies, including methane rules, the pause on new LNG export permits, EV mandates, federal oil and gas leasing, and even parts of the Inflation Reduction Act (IRA).
“Wind does not work. It’s too expensive,” said Trump, claiming solar and wind are neither good for the environment, nor suitable to provide reliable energy at low costs and prices.
Dismantling the IRA would first need a Republican-controlled Congress with majorities in both House and Senate. And even then, it could be difficult to scale back or scrap the incentives, as they mostly benefit projects and jobs in Republican states, analysts say.
Trump’s pick for running mate, Ohio Republican Senator J.D. Vance, also suggests that a second Trump administration would back fossil fuels at the expense of clean energy. Now that Biden is out of the race, presumptive nominee Vice President Kamala Harris’ background in California politics will come into view like never before.
As Vice President, Harris has been part of an administration that dismantled an energy dominant America into a country asking other nations to increase production to bring prices down. If the Biden-Harris administration is any guide, the powerful anti-oil extremist groups will work overtime to ensure presidential candidate Kamala Harris promises them an end to fossil fuels.
For more information, contact Sean Wallentine.