Touting his administration’s energy vision on Thursday, which places renewed emphasis on fracking, nuclear power and coal exports, Trump hailed the dawning of a new era for the US energy industry:
“With these incredible resources my administration will seek not only the American energy independence that we’ve been looking for so long, but American energy dominance,” he said.
The speech contained six specific policy announcements:
- First, we will begin to revive and expand our nuclear energy sector — which I’m so happy about — which produces clean, renewable and emissions-free energy. A complete review of U.S. nuclear energy policy will help us find new ways to revitalize this crucial energy resource. And I know you’re very excited about that, Rick.
- Second, the Department of the Treasury will address barriers to the financing of highly efficient, overseas coal energy plants. Ukraine already tells us they need millions and millions of metric tons right now. There are many other places that need it, too. And we want to sell it to them, and to everyone else all over the globe who need it.
- Third, my administration has just approved the construction of a new petroleum pipeline to Mexico, which will further boost American energy exports, and that will go right under the wall, right? It’s going under, right? (Laughter and applause.) Have it go down a little deeper in that one section. You know, a little like this. Right under the wall.
- Fourth, just today, a major U.S. company, Sempra Energy, signed an agreement to begin negotiations for the sale of more American natural gas to South Korea. And, as you know, the leaders of South Korea are coming to the White House today, and we’ve got a lot of discussion to do. But we will also be talking about them buying energy from the United States of America, and I’m sure they’ll like to do it. They need it. Thank you. (Applause.)
- Fifth, the United States Department of Energy is announcing today that it will approve two long-term applications to export additional natural gas from the Lake Charles LNG terminal in Louisiana. It’s going to be a big deal. It’s a great announcement.
- Finally, in order to unlock more energy from the 94 percent of offshore land closed to development, under the previous administration, so much of our land was closed to development. We’re opening it up, the right areas, but we’re opening it up — we’re creating a new offshore oil and gas leasing program. America will be allowed to access the vast energy wealth located right off our shores. And this is all just the beginning — believe me.