Trump's Energy Policy Set for Major Overhaul

With Donald Trump's election as President, significant shifts in U.S. energy policies are anticipated, including a potential withdrawal from the Paris Agreement and less stringent emissions regulations. While Trump aims to boost oil and gas production, analysts believe that bipartisan support for the Inflation Reduction Act (IRA) may mitigate drastic changes, as it has already stimulated over $220 billion in manufacturing investments. Experts express concern about possible funding cuts to the IRA, which could impact clean energy progress, although the demand for solar energy remains strong with nearly 100 GW of contracted projects. Trump's administration is expected to emphasize energy independence and lower costs for consumers, positioning natural gas exports as a means to reduce coal reliance globally. Furthermore, Trump has pledged to streamline energy production processes and promote fossil fuels as essential for economic growth, challenging the current green energy narrative. The overall outlook suggests a contentious but potentially transformative era for U.S. energy policy under Trump's leadership.