What Donald Trump’s victory implies for the energy sector…
The United States of America has a new president. The unexpected triumph of Donald Trump is certainly not due to his commitment to green issues over his rival Hillary Clinton. But anyway, the next occupant of the White House proposed a plan for an American Energy Renaissance.
In the seventies, the environment was a matter of great significance for a small number of people in the United States. Nowadays, it is of paramount importance for local, regional and national supremacy. So much so, that the two candidates had carefully presented their project. Hillary Clinton had a clear and well defined environmental project and has a competitive edge on her opponent. This was clearly seen in the results where American environmentalists have overwhelmingly voted for the Democratic candidate.
Donald Trump has pledged that he will reduce and eliminate all obstacles to responsible energy production, creating at least half a million jobs per year, 30 billion US dollars higher wages and cheaper energy.
But we must also face the fact that Hillary Clinton has shilly-shallied on some sensitive issues; particularly her past support for fracking, or hydraulic fracturing in the program known as the ‘Global Shale Gas Initiative’.
However, let us render unto Caesar the things which are Caesar’s. Donald Trump, with his outspokenness, even if he has done some damage like a bull in a china shop, has been more consistent. He did not hesitate to announce that the Environmental Protection Agency (EPA) will be dissolved under his Presidency. Donald Trump also announced he will “cancel the Paris climate agreement” and that climate change is “hoax created by and for the Chinese to make the US manufacturing noncompetitive,” at a time when Hillary Clinton has defined climate change as “an urgent threat and challenge of our time.” (Watch video)
Have Americans been seduced by the words of Republican candidate against the Democrat who seemed to have sided too much with the oil and gas industry?
Without fanfare, Donald Trump made his merry way with his energy plan. Exactly; what is up for the grabs with this American energy renaissance plan?
Donald Trump wants to make America ‘absolutely energy independent’ while creating millions of new jobs and protecting clean air and clean water. “We will maintain our natural habitats, our reserves and resources. We will trigger an energy revolution that will bring vast new wealth in our country, “he said. In the process, he intends to impose American dominance in energy as a strategic objective of economic and foreign policy of the United States.
The President-elect also wants to “encourage the use of natural gas and other US energy resources that will both reduce emissions but also reduce the price of energy and increase our economic output.” Donald Trump would also free the 50 trillion US dollars in untapped shale, oil, and natural gas reserves, plus hundreds of years in clean coal reserves. This would allow the US to “remain completely independent of any need to import energy from the Organization of Petroleum Exporting Countries (OPEC) cartel, or any nation hostile to our interests.”
Donald Trump will approve the construction of the Keystone pipeline in Canada but stressed that “Americans should have some of the profits and this is how the USA will become richer.”
It is expected that Barack Obama’s “job-destroying” decisions will be withdrawn. Donald Trump has pledged that he will reduce and eliminate all obstacles to responsible energy production, creating at least half a million jobs per year, 30 billion US dollars higher wages and cheaper energy.
While the Senate and Congress will all be to his cause, it is expected that Donald Trump will legislate to protect US interests in the environmental and energy fields.
As 9/11 will always remain in the world’s saddest memories, let us hope that 11/9 results are not going to rub salt into a wound that is slow to heal.
