Trump vows to end dependence on Opec

22 January 2017

America First policy to trigger new shale oil and gas boom

US President Donald Trump has declared he will free up the American oil and gas industry to increase output, reduce climate action laws and end US dependence on Opec and “any nations hostile to our interests”, in his first energy policy statement.

“The Trump administration is committed to energy policies that lower costs for hardworking Americans and maximise the use of American resources, freeing us from dependence on foreign oil,” said a statement published on the White House website on 20 January.

“For too long we’ve been held back by burdensome regulations on our energy industry. President Trump is committed to eliminating harmful and unnecessary policies such as the Climate Action Plan and the Waters of the US rule. Lifting these restrictions will greatly help American workers, increasing wages by more than $30bn over the next seven years.”

“Sound energy policy begins with the recognition that we have vast untapped domestic energy reserves right here in America,” the statement continued. “The Trump administration will embrace the shale oil and gas revolution to bring jobs and prosperity to millions of Americans. We must take advantage of the estimated $50 trillion in untapped shale, oil, and natural gas reserves, especially those on federal lands that the American people own. We will use the revenues from energy production to rebuild our roads, schools, bridges and public infrastructure. Less expensive energy will be a big boost to American agriculture as well.”

The Trump administration is also committed to clean coal technology, and to reviving America’s coal industry.

“… Boosting domestic energy production is in America’s national security interest,” the statement said. “President Trump is committed to achieving energy independence from the Opec cartel and any nations hostile to our interests. At the same time, we will work with our Gulf allies to develop a positive energy relationship as part of our anti-terrorism strategy.”

The statement said the US would continue to protect the natural environment. “… Our need for energy must go hand-in-hand with responsible stewardship of the environment,” it said. “Protecting clean air and clean water, conserving our natural habitats, and preserving our natural reserves and resources will remain a high priority. President Trump will refocus the Environmental Protection Agency on its essential mission of protecting our air and water.”

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