Comment: Energy group releases roadmap for industry in Trump era – Grand Forks Herald

As Washington prepares for the Trump administration, the American Petroleum Institute believes voters have given the Republican president-elect a mandate to roll back President Biden’s strict climate rules.

“Obviously, energy was on the list of issues,” said API President Mike Sommers.

Following the election, the group released a five-point energy policy roadmap for the incoming administration. The plan focused on consumer choice, U.S. geopolitical power, allowing reforms, sound tax policies, and the use of the country’s natural resources.

Sommers believes the country is in a unique position to use energy to improve the lives of Americans and stabilize the world. This approach includes policies that reduce inflation and carbon emissions without the need for government regulations and restrictions.

It also means prioritizing consumers over environmental goals, especially when regulating electric vehicles.

While API supports electric vehicle technology, it doesn’t believe the Biden administration’s tailpipe requirements and fuel economy standards are the right way to go.

Sommers said it makes no sense to require electric vehicles to make up two-thirds of all cars sold by 2032. He argued that any new emissions plans must take into account the interests of consumers and their families.

The group hopes the new administration will reject or rescind California’s request to waive regulations requiring all new vehicles to be zero-emission by 2035. API said the policies adopted by a dozen other states do not meet consumer demand and will increase America’s dependence on China for rare earth metals.

One vital part of the API roadmap involves increasing America’s geopolitical power, especially with regard to liquefied natural gas.

“Just last week, European leaders emphasized the importance of U.S. LNG in reducing dependence on Russia,” said Amanda Eversole, API executive vice president and chief advocacy officer.

The United States is the world’s largest exporter of LNG. Last year, the Energy Information Administration said it expected the nation’s natural gas production to increase by 15 percent. By comparison, LNG exports will grow by 152 percent by 2050. Much of this volume will go to European countries that have switched from Russian natural gas due to the war in Ukraine.

That was before the Biden administration suspended all new LNG contracts earlier this year. However, a few months later the pause was overturned by a judge. While U.S. LNG exports to Europe remain near record levels, API believes they could be even higher.

The group has lobbied Trump to lift the pause when he takes the oath of office in January. He also wants the Energy Department to process all pending export applications to open up America’s energy to the world.

Energy giants Shell and ExxonMobil predict that demand for conventional fuels, including LNG, will grow by 50 percent over the next two decades. Sommers said it is critical to ensure the U.S. continues to “provide the world with the energy it needs.”

To help meet growing energy demand, API argues that the Trump administration should open up opportunities for energy development on federal lands and offshore sites. During her presidential campaign, Kamala Harris argued that the Biden-Harris administration increased oil and gas leasing through the Inflation Reduction Act. However, the White House has approved only three offshore oil and gas leases through 2029. He also canceled all leases approved by the first Trump administration for the Arctic National Wildlife Refuge.

API hopes these rules will be reversed.

One vital part of API’s energy roadmap is permitting reform.

API supports reforms to the Clean Water Act and the National Environmental Law so energy companies can get off the ground faster. The group says streamlining the process gives companies a better time frame to complete environmental reviews. Regulators and environmentalists have used the rules to delay oil and gas pipeline projects like the Keystone XL project for years, leading to increased costs and lost labor.

Sommers supported a bipartisan energy permitting reform bill that passed the Senate Energy and Natural Resources Committee in July. He called it a legislative priority during the lame-duck session until a new Congress is sworn in next year. Lead sponsor Sen. Joe Manchin of West Virginia said the bill contains everything the country needs to provide “reliable, reliable and affordable energy in the cleanest possible way.”

The final stage of the roadmap includes tax reform. API wants the United States to keep its corporate tax rate at 21 percent to remain competitive in the global market. He is also pushing to expand tax provisions on domestic infrastructure investments, especially on intangible drilling costs, to help spur investment and job creation.

Sommers said the roadmap provides a vision of what American energy leadership could look like in the future. More importantly: “It’s also a return to common sense.”

Taylor Millard writes about politics and public policy for

InsideSources.com

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