Common Sense Regulations for the Common Good

Common Sense Regulations for the Common Good

Article by Tony Radoszewski in Pipeline & Gas Journal

Love him, hate him or be indifferent, President Trump is good for the oil and gas industry. By far and away, he is vastly different from any in recent history as most notably demonstrated by his use of social media. But what many may not realize is that he launched an energy revolution while so many in the media were obsessing on his tweets.

At the “Unleashing American Energy Event” held in late June, Trump said he was ushering in a new energy policy that marked an end to decades (going back at least to the Nixon administration) of fretting about an alleged “energy crisis.” Not satisfied with being “energy independent,” the president boldly claimed the U.S. would be “energy dominant” and that his goal was to “usher in a new American energy policy that unlocks millions of jobs and trillions of dollars in wealth.”

With the developments in drilling technology, most notably hydro-fracturing (fracking), vast domestic supplies of oil and natural gas have become available for production. And while it’s true that production of fossil fuels took off during the Obama administration, this was despite efforts to thwart production. mostly because the gains in production were on private lands.

The difference between this and the previous administration is significant. Trump’s predecessor called oil the “energy of the past,” canceled the Keystone XL pipeline, put vast tracts of land and offshore areas off-limits to oil and gas development, denied permits for LNG export terminals and endlessly pushed for huge tax hikes on energy companies. In fact, the only energy he supported was the unreliable and heavily subsidized wind and solar energy alternatives.

In Trump’s first week in office, he approved the Keystone XL project and accelerated the opening of the Dakota Access Pipeline. This was followed by opening drilling in the Arctic, creating new offshore leasing programs, building more energy pipelines – including one to Mexico – and increasing the sale of natural gas to both Asia and Eastern Europe, with the latter region able to buy energy from more trustworthy partners. But perhaps equally important, he is committed to ending intrusive regulations that kill jobs and raise the price of energy quickly and substantially….

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