Trump Plans Comprehensive Energy Package: LNG Exports and Oil Drilling in Focus

The transition team of former US President Donald Trump is working on a comprehensive energy package that is set to be introduced immediately upon taking office. Planned measures include the approval of export licenses for various liquefied natural gas (LNG) projects and the expansion of oil drilling both off the US coast and on federal land. This energy policy initiative largely reflects the campaign promises Trump made during his campaign. The goal is to establish oil and gas promotion as a central component of his early agenda, thus placing it in the same sphere of importance as immigration policy. Trump also plans to repeal key climate laws and regulations of his Democratic predecessor, including tax incentives for electric vehicles and new standards for clean power plants. A primary concern is the lifting of President Joe Biden's imposed license halt for LNG exports and the swift processing of pending applications. Furthermore, drilling permits on federal land are to be expedited and existing five-year plans for offshore drilling expanded. In a symbolic move, Trump intends to grant approval for the Keystone Pipeline. This project, a controversial environmental issue, was halted under Biden. However, companies would have to start from scratch as permits were returned to landowners. Trump also seeks to allocate new funds to refill the country's Strategic Petroleum Reserve, which was partially depleted under the Biden administration due to price fluctuations and international crises. Additionally, he plans to put pressure on the International Energy Agency, hoping to shift their stance in favor of more oil-intensive measures.