President-elect Donald Trump is preparing a broad energy package to bolster U.S. oil and gas production while rolling back key climate-focused policies from the Biden administration. The plan, which will launch immediately after Trump assumes office, signals a decisive pivot in the nation’s energy strategy.
Trump’s first actions will prioritize lifting restrictions on liquefied natural gas (LNG) exports, expediting drilling permits on federal lands, and expanding offshore oil production through new lease sales. These moves align with promises made during his campaign and emphasize domestic energy production as a cornerstone of his economic agenda.
One notable focus is the Keystone Pipeline, a contentious project halted by President Biden on his first day in office. While the pipeline remains symbolic, reviving it would require developers to restart the lengthy permitting and construction process.
The energy package also targets the repeal of tax credits for electric vehicles (EVs) and rollbacks on clean power standards. These measures could significantly impact the EV market, which has relied on government incentives to drive adoption.
Trump’s administration will also call on Congress to replenish the Strategic Petroleum Reserve, an emergency crude oil supply depleted during the Biden years, to address price spikes. This effort could temporarily boost oil demand and production but faces potential pushback from Congress.
Internationally, Trump’s team is expected to pressure the International Energy Agency (IEA) to adopt more pro-oil policies that will refocus on energy security instead of greenwashing.
Trump’s approach is poised to reshape the U.S. energy sector by prioritizing LNG export permits and domestic drilling. However, questions remain about this shift’s long-term economic and environmental implications.
