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ENERGY: Trump to Create Council to Drive Energy Dominance: Bloomberg

ENERGY
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Trump is expected to sign an executive order creating a national energy dominance council and will task it with steering US policy on the issue, Bloomberg reported.

  • This underscores his commitment to driving already record domestic production.
  • The new council will be led by Interior Secretary Doug Burgum, with Energy Secretary Chris Wright as its vice-chair.
  • The council will be tasked to develop strategies to attain energy dominance including by improving permitting processes and addressing regulation, the official cited by Bloomberg said. It will apply across all forms of US energy.
  • Previous presidents have used similar approaches, Bloomberg noted. Former President Joe Biden created a National Climate Task Force.
  • Under Trump, the government is expected to repeal Biden-era regulations limiting oil demand and raising production costs.
  • However, the President ability to drive more drilling is limited, as oil companies have shown little interest in dramatically boosting output.
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Trump is expected to sign an executive order creating a national energy dominance council and will task it with steering US policy on the issue, Bloomberg reported.

  • This underscores his commitment to driving already record domestic production.
  • The new council will be led by Interior Secretary Doug Burgum, with Energy Secretary Chris Wright as its vice-chair.
  • The council will be tasked to develop strategies to attain energy dominance including by improving permitting processes and addressing regulation, the official cited by Bloomberg said. It will apply across all forms of US energy.
  • Previous presidents have used similar approaches, Bloomberg noted. Former President Joe Biden created a National Climate Task Force.
  • Under Trump, the government is expected to repeal Biden-era regulations limiting oil demand and raising production costs.
  • However, the President ability to drive more drilling is limited, as oil companies have shown little interest in dramatically boosting output.