Philip Rossetti from the R Street Institute joins the show to discuss the potential changes in energy policy if there is a return to a Trump administration. Rossetti anticipates a shift towards a more open approach to energy production, contrasting with the Biden administration’s restrictions on oil and gas leasing and energy exports. Trump is expected to reverse these restrictions and promote domestic production.
Rossetti also mentions that Congress will likely address expiring tax provisions from the 2017 tax cuts. Republicans may use this opportunity to roll back green energy subsidies from the Inflation Reduction Act and focus on other tax priorities. He expects a mix of energy policies, with a stronger emphasis on oil and gas due to the Biden administration’s antagonistic stance towards these sectors. However, there will also be efforts to address permitting issues for clean energy projects.
The role of energy producers, particularly companies like Exxon Mobil, is highlighted. These companies are expanding their energy production to include various types of energy, not just oil and gas. The Trump administration is expected to support these efforts by creating a favorable regulatory environment, ensuring that investments are safe and profitable.
Rossetti also discusses the Supreme Court’s 2022 ruling in West Virginia vs. EPA, which limits the EPA’s authority to impose broad regulations on carbon dioxide emissions. This ruling provides an opportunity for the Trump administration to unwind some of the Biden administration’s regulatory measures.
Overall, Rossetti suggests that a Trump administration would focus on reducing regulatory burdens, promoting domestic energy production, and supporting the private sector’s role in leading energy initiatives. The interview concludes with a mention of future discussions on carbon capture and sequestration.
For more on Philip’s take on the future of energy policy, visit: https://www.rstreet.org/commentary/low-energy-fridays-the-republican-dominated-policy-landscape/