US oil industry eagerly awaits Donald Trump’s deregulatory push

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Financial Times 3d ago

US oil industry eagerly awaits Donald Trump’s deregulatory push - Financial Times

Quick Summary:

On taking office next January, the industry expects Trump to slash many of the environmental rules imposed by Biden.

Mike Sommers, head of the American Petroleum Institute, said there had been a “regulatory onslaught” during the past four years that would now be reversed.“Just the signal from the administration that they want a robust oil and gas industry in the US is going to be a major component to getting this industry the investment that it needs to continue to grow,” he said.

Among the changes the industry expects are the abolition of rules on tailpipe emissions designed to push motorists towards electric vehicles, as well as expanded access to hydrocarbons through increased leasing in the Gulf of Mexico and on public lands, and the dilution of protections for endangered species.