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White House Offers America-First Energy Plan

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President Trump had barely finished his inauguration speech Friday when the White House released its blueprint for energy under the new Administration. The plan, as expected, is a clear break from the Climate Action Plan and the Waters of the U.S. rule espoused by the previous Administration. Focusing instead on energy policies that reduce costs for Americans and increase the use of U.S. resources, the energy plan aims to lessen dependence on foreign oil.

To do this, the plan looks to take advantage of an estimated “$50 trillion in untapped shale, oil and natural gas reserves, especially those on federal lands,” the plan states. It also includes a pledge from a security standpoint to “achieving energy independence from the OPEC cartel and any nations hostile to our interests.”

While short on specifics, the pledge took direct aim at the Environmental Protection Agency (EPA) with the President committing to uphold environmental oversight, but returning the EPA to its traditional mandate of protecting air, water and habitat. “Our need for energy must go hand-in-hand with responsible stewardship of the environment. Protecting clean air and clean water, conserving our natural habitats, and preserving our natural reserves and resources will remain our highest priority.”

To achieve the goal of greater oil production, while expecting cheaper prices for consumers, may be a tall order. While removing regulatory restrictions can help, the economics of oil production move on price–ironically, more oil means lower prices. As such, the likelihood of taxes on foreign oil become more realistic, but refiners and ultimately consumers may wind up paying more at the pumps, not less.

The Energy Plan wasn’t limited to oil and the dismantling of the EPA’s ambitions in the area of carbon emissions. Consistent with his pledge during the presidential election, the Trump Administration reiterated its commitment to clean coal technology, which it said was key to restarting the American coal industry.

The release of the plan and the outlines on the future direction of energy signal the central importance the new president attaches to energy as the key driver in reinvigorating the economy. “A brighter future depends on energy policies that stimulate our economy, ensure our security and protect our health,” the plan states.

Brace for the next 100 days as this transformational policy framework will undoubtedly lead to some of the most significant changes affecting the U.S and the world of energy in a generation.

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