Energy policy has become a revolving door as each presidential administration unravels the previous approach and attempts to assert its agenda. The last four years have starkly contrasted to the previous four, and November 5 will determine how the coming four will play out.
Deregulation became the blueprint for the Donald Trump administration, undoing restrictions put in place by his predecessor and unleashing an energy dominance not seen in decades. Permitting bottlenecks and major bureaucratic hurdles were eased, allowing for speedier infrastructure project completion. Access to federal land became easier for oil and gas development.
By midterm, the United States became the world’s No. 1 oil producer and maintained its position as the top producer of natural gas. In 2019, the nation reached energy independence, “marking the first time in 67 years that our annual gross energy exports exceeded our gross energy imports.”
The abundance of energy production not only met the needs of the American public but kept prices relatively low. Reliability and affordability became pillars of the administration, and economic growth and stability were mainstays.
Even with an increase in oil and gas production, overall emissions did not rise during this time; air quality (regulated emissions) improved by 7 percent, totaling 77 percent since the passage of the Clean Air Act. Energy can be produced responsibly in America.
However, the 2021 change in leadership brought about significant shifts in energy priorities.
The closing of major pipeline projects, on top of numerous moratoriums for drilling on federal land, set the stage for a new administration. The centerpiece legislation, the Inflation Reduction Act, featured unlimited government subsidies for “clean energy” sources such as wind, solar and electric vehicles. Solar and wind farms are springing up nationwide, and an increasing number of EVs are hitting the pavement as folks cash in on the handouts.
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Kristen Walker is a policy analyst for the American Consumer Institute, a nonprofit education and research organization. For more information about the Institute, visit www.theamericanconsumer.org or follow us on Twitter @ConsumerPal.