Trump’s Energy Agenda After the 2024 Election
Following the 2024 election, President Donald Trump has reasserted his commitment to an “all-of-the-above” energy strategy, emphasizing the expansion of fossil fuels, nuclear energy, and a cautious approach to renewables. Central to his agenda is the promotion of U.S. energy dominance, aiming to bolster economic growth and national security. In the fossil fuel sector, Trump has expedited the approval of liquefied natural gas (LNG) export terminals, aiming to double exports by 2028. He has also lifted restrictions on offshore drilling and expanded drilling leases, including in Alaska. Additionally, the administration has declared a national energy emergency to accelerate fossil fuel development and ease the construction of oil and gas projects, weakening environmental reviews in the process. Regarding nuclear energy, the administration has issued executive orders to support production, including the restart of reviews for new nuclear projects. The Infrastructure Investment and Jobs Act allocates $6 billion for domestic nuclear power, aiming to modernize and expand the nuclear fleet. On the renewable front, while Trump has expressed skepticism about the reliability of solar and wind power, investments continue. In 2024, the U.S. invested in more than 30 gigawatts of solar power, almost 3% of the country’s capacity. However, the administration has paused wind energy leasing and permitting, signaling a shift away from aggressive renewable expansion. Overall, Trump’s post-2024 energy strategy reflects a prioritization of fossil fuel development and nuclear energy, with a more cautious approach to renewable energy investments.