Photo: C-SPAN
In his inauguration address, United States President Donald Trump vowed to bring energy prices down, with an emphasis on raising oil and gas production. He stressed his administration would “end the green new deal” and “revoke the electric vehicle mandate,” enabling Americans to buy any kind of car.
The US will be the envy of every nation and won’t allow “to be taken advantage of any longer,” President Donald Trump said at his inauguration. “I will, very simply, put America first,” he underscored, repeating the slogan from the campaign from his previous mandate.
The president revealed that he would immediately “end the green new deal” with executive orders, apparently referring to the Inflation Reduction Act – IRA. It is the previous administration’s massive support package for decarbonization investments.
Electric cars not to be favored anymore
Trump also announced he would “revoke the electric vehicle mandate.” Namely, he is expected to repeal and relax rules due to be rolled out in 2027 and obligate the car industry to halve emissions in light- and medium-duty units. “In other words, you’ll be able to buy the car of your choice,” the president added.
The White House could also roll back tax credits for electric vehicles.
Oil and gas production is energy policy pillar
One of the main policy pillars now is boosting oil and gas production. “The inflation crisis was caused by massive overspending and escalating energy prices, and that is why today I will also declare a national energy emergency. We will drill, baby, drill,” Trump said.
A national emergency would allow cutting regulations for fossil fuel production, especially in Alaska and offshore and for pipeline projects. The Trump campaign is aiming to encourage job creation in the sector as well.
“America will be a manufacturing nation once again, and we have something that no other manufacturing nation will ever have: the largest amount of oil and gas of any country on Earth. And we are going to use it. Let me use it. We will bring prices down, fill our strategic reserves up again, right to the top, and export American energy all over the world. We will be a rich nation again, and it is that liquid gold under our feet that will help to do it,” he stated.
Trump will most probably withdraw the country from the Paris Agreement. He didn’t mention climate change or coal policy in his address.
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