Trump win invigorates fossil fuel industry

Energy & Environment

The Big Story

Trump win invigorates fossil fuel industry

President-elect Trump's win has sent a jolt of enthusiasm through the fossil fuel and mining industries as they anticipate a favorable regulatory environment under his incoming administration.

In the wake of his victory, the industry is hopeful he’ll deliver on his promises and roll back regulations put in place by the Biden administration.

“[T]here are clearly some specific things right away that we encourage them to consider,” Amanda Eversole, chief operating officer at the American Petroleum Institute, told The Hill, such as lifting the Environmental Protection Agency’s (EPA) “tailpipe mandates” requiring a greater share of automakers’ new products to be hybrid or electric.

“We want to make sure that we stop this flawed approach, and we think the administration can move quickly,” Eversole told The Hill. “We also [think], depending on their approach, the courts could certainly stop it as well, because we think there’s a strong chance of victory.”

On Tuesday, API also released a roadmap detailing policies it would like to see the Trump administration pursue including:

Quickly processing all pending applications for new natural gas exports
Issuing a new five-year plan for offshore oil and gas leasing to replace a Biden plan that had the smallest-ever number of lease sales
Repealing "restrictive" onshore oil and gas leasing rules and ending the methane fee that charges oil and gas producers for high levels of emissions
Maintaining a 21 percent corporate tax rate

Meanwhile, the National Mining Association, the main lobbying group for the mining industry, is also sanguine about the likelihood of industry-friendly policies from the incoming administration.

In a statement to The Hill, CEO Rich Nolan called for the Trump administration to freeze new carbon pollution standards for existing coal plants and restrictions on coal mining on public lands.

Read more at TheHill.com.

Welcome to The Hill’s Energy & Environment newsletter, we’re Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.

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