WASHINGTON — President-elect Donald Trump plans to form a National Energy Council aiming for American “energy dominance” globally, pivoting away from President Joe Biden’s climate change policies. Trump’s focus is on expanding U.S. oil and gas drilling.
Led by North Dakota Gov. Doug Burgum, Trump’s Interior Department pick, the energy council will pursue the “drill, drill, drill” agenda, boosting energy exports to Europe and beyond.
The council will oversee energy permitting, production, and regulations, aiming to reduce bureaucracy, spur private investments, and prioritize innovation over regulation, Trump emphasized.
However, Trump’s energy ambitions face hurdles. Under Biden, U.S. oil production is already at record highs. Federal authorities can’t compel companies to increase drilling, and high production might lower prices.
Trump’s call for energy dominance is an “opportunity, not a requirement,” for oil firms, according to energy analyst Kevin Book. Private firms’ global market perceptions will influence potential drilling increases.
Trump’s strategy to raise oil supply and reduce U.S. prices is threatened by his recent tariff proposal on Canada and Mexico, key U.S. oil sources. Industry leaders warn this could elevate prices and impact security.
“Canada and Mexico are critical energy trade partners,” said Scott Lauermann of the American Petroleum Institute, noting their importance to North American energy security and affordability.
The American Fuel & Petrochemical Manufacturers expressed similar concerns, emphasizing U.S. reliance on Canadian and Mexican crude for fuel production.
Scott Segal, former Bush official and law partner at Bracewell, noted Trump’s centralization of energy decisions mirrors Biden’s climate policy approach. He described Burgum as experienced in both fossil and renewable energy sectors.
Dustin Meyer from the American Petroleum Institute welcomed the energy council, stressing its potential for economic and trade benefits through better coordination.
Jonathan Elkind from Columbia University remarked that “energy dominance” is vague and expressed skepticism about increasing oil production in a saturated market.
Trump’s promise of sub-$2 gas prices seems improbable without significant crude oil price drops. Current gas prices average $3.07, a reduction from the previous year.
Elkind and others hope the council will address renewable energy like wind and solar, which are vital for mitigating climate change impacts highlighted by costly weather disasters.
Despite minimizing climate risks, Trump commits to expanding all energy forms for economic growth and job creation, including renewables, as noted by Georgetown University’s Safak Yucel.
Yucel pointed out the growing renewable sector in Republican-led states, emphasizing that economic viability will sustain renewable energy growth.
