According to Republican policy experts and Trump's campaign website, if former US President Donald Trump were to return to power following the November election, he would attempt to erase much of the Biden administration's work to combat climate change and begin fresh initiatives to expand the production of fossil fuels.
The following are a few likely moves:
Halt in LNG Export Permits
A Trump administration would probably quickly lift the interim ban on new LNG export licences that US President Joe Biden imposed this year, pending an analysis of their effects on the economy and environment. After Russia's invasion of Ukraine forced U.S. partners to look for alternatives to Russian natural gas, the United States rose to the top of the world export rankings for the supercooled gas—a positive development for gas companies but a concern for climate and environmental groups.
Methane Fee
The Trump administration will probably try to overturn an EPA regulation that would have required the oil and gas sector to pay a $900–$1500 per tonne cost for methane emissions. The goal of the policy was to lower emissions of the potent greenhouse gas, but drillers and pipeline firms are adamant that it will negatively impact their bottom line.
Further Drilling
The U.S. Interior Department's five-year offshore oil and gas leasing programme would probably be redesigned under a second Trump administration in order to increase the number and range of drilling auctions. The current plan was created by the Biden administration with a record low number of auctions as part of larger attempts to initiate the shift to cleaner energy sources.
A second Trump administration might also try to sell off more federal land to states looking to increase their mining, oil, and gas extraction industries if Republicans win control of Congress in November's elections.
Withdrawal From Paris Deal
The campaign of Donald Trump has pledged to withdraw the US from an international agreement aimed at addressing climate change. In his first term, Trump pulled the United States out of the Paris Agreement; but, as soon as Biden was elected, he swiftly undid that decision and has worked to reestablish American credibility and leadership in international climate initiatives.
Mandates for Electric Vehicles
The Environmental Protection Agency would probably be instructed to review vehicle efficiency rules under a Trump administration in order to encourage automakers to accelerate the transition to battery-powered cars and trucks this decade.
Climate Tax Breaks under the Inflation Reduction Act
The approximately $400 billion in tax breaks included in Biden's climate legislation, the IRA, are being examined by conservative think tanks Heritage Foundation and the America First Policy Institute by Trump. This would free up the funds for other uses, such as extending the Tax Cuts and Jobs Act, which is scheduled to expire in 2025. However, completing this task will rely on whether Republicans maintain control of the House and the Senate following November's elections, as well as their willingness to eliminate subsidies that mostly help Republican-dominated states.
(Source:www.reuters.com)
The following are a few likely moves:
Halt in LNG Export Permits
A Trump administration would probably quickly lift the interim ban on new LNG export licences that US President Joe Biden imposed this year, pending an analysis of their effects on the economy and environment. After Russia's invasion of Ukraine forced U.S. partners to look for alternatives to Russian natural gas, the United States rose to the top of the world export rankings for the supercooled gas—a positive development for gas companies but a concern for climate and environmental groups.
Methane Fee
The Trump administration will probably try to overturn an EPA regulation that would have required the oil and gas sector to pay a $900–$1500 per tonne cost for methane emissions. The goal of the policy was to lower emissions of the potent greenhouse gas, but drillers and pipeline firms are adamant that it will negatively impact their bottom line.
Further Drilling
The U.S. Interior Department's five-year offshore oil and gas leasing programme would probably be redesigned under a second Trump administration in order to increase the number and range of drilling auctions. The current plan was created by the Biden administration with a record low number of auctions as part of larger attempts to initiate the shift to cleaner energy sources.
A second Trump administration might also try to sell off more federal land to states looking to increase their mining, oil, and gas extraction industries if Republicans win control of Congress in November's elections.
Withdrawal From Paris Deal
The campaign of Donald Trump has pledged to withdraw the US from an international agreement aimed at addressing climate change. In his first term, Trump pulled the United States out of the Paris Agreement; but, as soon as Biden was elected, he swiftly undid that decision and has worked to reestablish American credibility and leadership in international climate initiatives.
Mandates for Electric Vehicles
The Environmental Protection Agency would probably be instructed to review vehicle efficiency rules under a Trump administration in order to encourage automakers to accelerate the transition to battery-powered cars and trucks this decade.
Climate Tax Breaks under the Inflation Reduction Act
The approximately $400 billion in tax breaks included in Biden's climate legislation, the IRA, are being examined by conservative think tanks Heritage Foundation and the America First Policy Institute by Trump. This would free up the funds for other uses, such as extending the Tax Cuts and Jobs Act, which is scheduled to expire in 2025. However, completing this task will rely on whether Republicans maintain control of the House and the Senate following November's elections, as well as their willingness to eliminate subsidies that mostly help Republican-dominated states.
(Source:www.reuters.com)
