Trump Plans to Boost U.S. Energy Exports, Revive Keystone XL Pipeline

Nov 29, 2024, 02:30 PM

President-elect Donald Trump is set to prioritize energy production in his administration, focusing on easing restrictions on oil and LNG to bolster U.S. energy exports. Trump plans to establish a National Energy Council to promote American 'energy dominance' by increasing oil and gas drilling, reviving projects like the Keystone XL pipeline, and potentially maintaining sanctions on Russian LNG production. This approach aims to enhance U.S. energy exports, particularly LNG, and could have implications for global energy markets, including causing concern in Moscow. However, Trump's vision of 'energy dominance' might face real-world limitations due to existing high U.S. oil production levels under President Joe Biden, state regulations, and the potential for increased gas prices due to tariffs.