Donald Trump Details ‘America-First’ Energy Plan

[IsailedawayfromFR]

Donald Trump detailed his energy plan, which he previously mentioned during his speech on the economy at the Detroit Economic Club in August, on Thursday in Pittsburg, Pennsylvania.

“I am going to lift the restrictions on American energy, and allow this wealth to pour into our communities – including right here in Pennsylvania,” Trump stated while speaking to more than 1,000 gas industry experts.

Citing the Institute for Energy Research, Trump suggested that lifting energy restrictions such as shale production would produce more than 500,000 new jobs every year and raise the GDP by more than $100 billion each year.

He also says lifting the restrictions would raise wages over the next seven years, increase tax revenues, and generate economic activity.

Trump promised to unlock “shale oil and gas, and the energy technologies of both today and tomorrow.”

He continued:

    We have just begun, as a nation, to recognize our economic advantage that is made possible by shale energy. The Shale Energy Revolution will unleash massive wealth for American workers and families.

He presented an “America-First” energy plan by opening oil and gas production on federal lands and off shore. He said he would revoke policies that restrict innovative technologies.

The Republican nominee suggested his “energy revolution” would create an increased demand for steel production as well.

Speaking near coal country, Trump also promised to end the war on coal.

“I will rescind the coal mining lease moratorium, the excessive Interior Department stream rule, and conduct a top-down review of all anti-coal regulations issued by the Obama Administration,” he vowed.

Trump also said he would eliminate the “Waters of the US” rule “and scrap the $5 trillion dollar Obama-Clinton Climate Action Plan and the Clean Power Plan – these unilateral plans will increase monthly electric bills by double-digits without any measurable improvement in climate.”

“I will refocus the EPA on its core mission of ensuring clean air, and clean, safe drinking water for all Americans,” he explained.

“My environmental agenda will be guided by true specialists in conservation, not those with radical political agendas,” Trump concluded. “It will be a future of conservation, of prosperity, and of great success.”
http://www.breitbart.com/2016-presidential-race/2016/09/22/donald-trump-details-america-first-energy-plan/

If he is a man of his words, this will be great news for America, and far better than the Bushes achieved.

[Fishrrman]

What Mr. Trump would do, vs…
… what hillary would do.

No difference at all… eh?
(or, so sayeth the ne'ertrumpers)

[Smokin Joe]

What Mr. Trump would do, vs…
… what hillary would do.

No difference at all… eh?
(or, so sayeth the ne'ertrumpers)

Color me skeptical as he said in Iowa he would increase the Renewable Fuels (ethanol) mandate and use the EPA to enforce it the fullest extent of the law.

[thackney]

I've found the word "details" typically involves, details.

Bad headline.

[Smokin Joe]

I've found the word "details" typically involves, details.

Bad headline.

He's going to lift the restrictions? Like what? The EPA already found fraccing didn't pollute water supplies. What restrictions that are present are usually valid State Regulations or State/local laws banning fraccing entirely (NY, for instance). Aside from that there is the permitting process for Federal Land, but even when prices are high, dealing with the Federal Government is always subject to the regulatory schizophrenia that seems to accompany regime changes, and a risk all in itself.

Unless he is going to assert that the federal Government can override the States in the matter of Oil and Gas regulation (NOT a good idea) or otherwise have the Feds assume control, he will only be screwing around with something that isn't broke.

As we've said in the patch forever: "If it ain't broke, don't fix it." The market based economy works.

So we can drill all the $40/bbl oil we want?

Meh.

[IsailedawayfromFR]

He's going to lift the restrictions? Like what? The EPA already found fraccing didn't pollute water supplies. What restrictions that are present are usually valid State Regulations or State/local laws banning fraccing entirely (NY, for instance). Aside from that there is the permitting process for Federal Land, but even when prices are high, dealing with the Federal Government is always subject to the regulatory schizophrenia that seems to accompany regime changes, and a risk all in itself.

Unless he is going to assert that the federal Government can override the States in the matter of Oil and Gas regulation (NOT a good idea) or otherwise have the Feds assume control, he will only be screwing around with something that isn't broke.

As we've said in the patch forever: "If it ain't broke, don't fix it." The market based economy works.

So we can drill all the $40/bbl oil we want?

Meh.

The Feds control many millions of acres currently off-limits to drilling.

I read him to say these will not be unduly restricted, so the marketplace can be more open.

As far as drilling for $40 oil, as long as it is that low, likely no one will be drilling much. But then again, why would anyone want or need to?

[Idaho_Cowboy]

Well, we already heard a different story in Iowa than we did in coal country. Maybe we can get his opinion next to a couple acres of wind powered birdie blenders so we can get an average.

[thackney]

As far as drilling for $40 oil, as long as it is that low, likely no one will be drilling much. But then again, why would anyone want or need to?

Because our imports have grown by over a million barrels a day in this time period.  And most of the increase is from OPEC nations.

[Smokin Joe]

Because our imports have grown by over a million barrels a day in this time period.  And most of the increase is from OPEC nations.

That might be, but if the economics don't work out, no one is going to raise a derrick. It isn't charity work.
The only other factors which could change that are a tariff on imports (artificially higher prices, which would make refined product exports much less competitive), or "nationalizing" oil exploration and production (a totalitarian hallmark, in which case I find another line of work).

[INVAR]

When Trump promises to defund, abolish and repeal the dictates of the EPA - then I will sit up, take notice and applaud.

Until then, it's all word salad bullshiite from a con-man who talks a big game and blames everyone else when it fails.

[IsailedawayfromFR]

Because our imports have grown by over a million barrels a day in this time period.  And most of the increase is from OPEC nations.

With OPEC'S  huge advantage in low capex and opex to extract oil, it could keep that low price a long time if it desired.  We could do almost nothing about it as our nominal costs could never be that low.

Why doesn't it?

Greed.

[IsailedawayfromFR]

When Trump promises to defund, abolish and repeal the dictates of the EPA - then I will sit up, take notice and applaud.

Until then, it's all word salad bullshiite from a con-man who talks a big game and blames everyone else when it fails.

Not even Reagan could do that, eliminating Nixon's brainchild.

Get what you can rather than simply throwing a tantrum.

[INVAR]

Not even Reagan could do that, eliminating Nixon's brainchild.

Get what you can rather than simply throwing a tantrum.

Which is absolutely nothing, so no thanks.

Without getting rid of the cause of the problem, there is no solution except ever-increasing and tyrannical government, regardless which party presents it.

Call it a tantrum if you like.  I frankly don't care.