Monday, June 26, 2017

Trump to Call for U.S. Dominance in Global Energy Production...


Trump to Call for U.S. Dominance in Global Energy Production...
Donald Trump will tout surging U.S. exports of oil and natural gas during a week of events aimed at highlighting the country’s growing energy dominance. The president also plans to emphasize that after decades of relying on foreign energy supplies, the U.S. is on the brink of becoming a net exporter of oil, gas, coal and other energy resources. 
With “Energy Week,” Trump is returning to familiar territory -- and to the coal, oil, and gas industries on which he’s already lavished attention. Trump’s first major policy speech on the campaign trail, delivered in the oil drilling hotbed of North Dakota in 2016, focused on his plans for unleashing domestic energy production. 
The issue has also been a major focus during Trump’s first five months in office, as he set in motion the reversal of an array of Obama-era policies that discourage both the production and consumption of fossil fuels. 
Exports Equal Influence 
Trump is set to deliver a speech at the Energy Department on Thursday focused almost entirely on energy exports -- describing how the foreign sale of U.S. natural gas, oil and coal helps strengthen the country’s influence globally, bolster international alliances, and help stabilize global markets. 
Energy Secretary Rick Perry may touch on similar themes when he speaks Tuesday with analysts and executives at the U.S. Energy Information Administration conference in Washington.   
“The fact that we’re no longer in the age of energy scarcity -- that we’re in the age of energy abundance -- positions the United States in a totally different place,” said Dave Banks, a special assistant to the president for international energy. 
“This gives access to affordable, reliable energy in the United States, and gives the U.S. a major competitive advantage.” T 
he focus on exports dovetails with Trump’s policy priorities, including improving the balance of trade, rebuilding heavy manufacturing and modernizing infrastructure, said Benjamin Salisbury, a senior energy and natural resources analyst with FBR and Co. 
The Trump administration seems to appreciate the synergy between extractive industries and manufacturing, Salisbury said, with cheap energy powering factories that are in turn churning out the equipment used to produce and export those resources.

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