(Reuters) – President-elect Donald Trump has promised to maximize U.S. oil and natural gas production – already at record highs – in part by clearing away what he deems as unnecessary regulation and bureaucracy.
Here are some of the energy-related executive orders Trump could announce during his first days in office, as he seeks to follow through on that promise.
CLIMATE WITHDRAWAL
Trump could order the U.S. to withdraw from the 2015 Paris Agreement, an international pact to fight climate change and limit the rise in global temperatures by slashing fossil fuel-related emissions. Trump withdrew the U.S. during his first term, and transition sources have said he wants to do it again. A withdrawal from the accord is significant because the United States is the world’s largest historical greenhouse gas emitter and an important driver of global climate ambition.
GAS EXPORT BOOST
Trump has made clear he intends to swiftly lift a moratorium on new liquefied natural gas export permits imposed by President Joe Biden’s administration – something his advisers say could happen within hours of his inauguration on Jan. 20. Biden imposed the freeze in early 2024 to conduct a study on the environmental and economic impacts of rising U.S. gas exports, which have boomed since Russia’s invasion of Ukraine drove European governments to cut Russian gas imports. The study urged caution in issuing new permits. Trump, however, could wait until after the study’s comment period ends on Feb. 18 to protect any permit approvals from court cases.
ENERGY EMERGENCY
Trump may declare a national emergency for U.S. energy, allowing him to fast-track permits for new power infrastructure and other energy projects. The move, which Trump promised on the campaign trail, would fit into his broader agenda to expand energy production as the power grid struggles to prepare for a projected surge in demand from data centers. Natural gas would likely be a big focus, though other sectors like renewables, pipeline operators, and the nuclear industry could also benefit. The declaration could be vulnerable to legal challenges, if his administration cannot firmly establish the existence of a real emergency justifying a shortcut around environmental and other permitting procedures.
DRILL, BABY, DRILL
Trump is likely to order his administration to vastly expand oil and gas drilling on federal lands and waters, reversing Biden-era moves to minimize fossil fuel development on U.S. acreage. It will be largely up to the discretion of his Interior Department to decide how often, and at what scale, to offer acreage for auction to drillers. About a quarter of the nation’s oil comes from federal leases. A big challenge, however, will be expanding auctions to new regions offshore, after Biden used the Lands Act this month to protect vast swathes of the Atlantic, Pacific, and elsewhere from oil development.
TILTING AT WINDMILLS
Trump has said he intends to put an end to new offshore wind power developments, arguing the industry is expensive, hurts whales, and causes a landfill problem when old turbines are decommissioned. That’s a switch from his first term, when his administration supported offshore wind. Trump could follow through on his promise by ordering his Interior Department to stop, or limit, new lease auctions for offshore wind in federal waters. The offshore wind industry, already facing major challenges around rising costs and supply chain issues, has said it expects existing approved projects in the U.S. to continue in the meantime.
TARIFFS
Trump’s promise to impose sweeping tariffs on U.S. imports from just about everywhere – including Canadian crude oil and refined fuel, and solar and electric vehicle battery parts – could have consequences on global trade. The devil will be in the details.
This post is originally published on INVESTING.
