Donald Trump, the President-elect of the United States, is expected to announce an executive order promoting fossil fuel development such as oil drilling immediately after his inauguration, Caroline Ribbit, spokesperson for the Trump transition team, said on the 17th (local time).
According to Bloomberg News on the same day, Ribbit said on Fox News' "Fox & Friends First," "President-elect Trump will start working from the very first seconds after arriving at the White House," adding that this includes an executive order to quickly process permits for oil drilling and fracking (hydraulic fracturing for shale gas drilling) nationwide to immediately lower living costs.
During his campaign, President-elect Trump repeatedly chanted "drill, baby, drill," pledging to expand oil drilling and ease related regulations. He also referred to oil as "liquid gold" and said several times that he would increase oil production to control prices. Regarding the Biden administration's Inflation Reduction Act (IRA), he called it the "Green New Scam" and vowed to repeal the bill if re-elected.
This is similar to President-elect Trump's actions on the first day of his first term. Immediately after his inauguration in January 2017, he posted the "America First Energy Plan" on the White House website and promoted the construction of oil pipelines and the deregulation of energy resource development and use.
The fossil fuel industry has high expectations for President-elect Trump's energy policy. They hope the Biden administration's plan to limit offshore drilling lease auctions to three times over five years will be revised. They also anticipate policies such as speeding up lease sales and easing gas emission regulations. Alaska Governor Mike Dunleavy told Bloomberg on the 3rd that President-elect Trump's energy policy promises certainty that will encourage investment in oil and gas.
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