It’s tied into so much of our politics today even if we don’t always fully realize. The right and the left have been pushing back and forth on the issue of energy and the ways that we use it in all aspects of our lives. From the effects of the market on daily economics to the industries we work in and even the future of the world itself. Now that Trump is in power and the right have control over all three branches of government, what can we expect to see in the world of energy?
Is coal becoming viable again?
The ‘war on coal’ has been waged and won again after the battle seemed done and dusted to most people. During the Obama administration, it looked like we were leaving coal behind but as of the end of last month, President Trump has effectively undone the work that President Obama left in place. To some, this represents a chilling step back on the path to shrugging off fossil-fuels. To many Americans, however, the coal industry means jobs. Stripping regulations and bringing back jobs in seemingly abandoned or hamstrung sectors has been a big part of Trump’s campaign promises. It shouldn’t be too much of a surprise that America’s coal industries start growing again if he continues to keep that promise.
The price of oil
As https://oilandenergyinvestor.com/2011/04/why-gas-prices-are-outrunning-oil-prices/ states, oil hasn’t been showing serious growth for years now. Under President Trump’s regulation reversing revolution, we might see oil and natural gas prices tumbling further for the consumer. But while that’s good for stimulating local economies, making work more affordable for business owners and employees. However, lower prices are not necessarily good for the oil and gas industries which the US still relies heavily upon. In fact, some say that 35% of all E&P oil and gas companies are at risk of bankruptcy. Such a collapse of huge portions of such a vital industry could very well be the beginning of a new financial crisis not just in the States but across the world.
A greener future?
To those who care about the impact of human’s use of fossil fuels on the environment, reversing the Obama’s administration’s regulations look like nothing short of a disaster. The current administration certainly hasn’t done a lot to assuage fears that we are at risk of serious climate change. But for those in the throes of despair, there are reports like http://www.cnbc.com/2017/01/24/donald-trump-cant-stop-back-solar-and-wind-power.html which say that it’s too late to turn the clock back on the rise of renewable fuels. Investors have continued to show more interest in renewable energy projects as opposed to the aforementioned trouble seen in oil and gas companies and lawmakers from all sides have renewed subsidies in many states for solar and wind energy companies.
There’s still a lot of concern over what exactly a Trump presidency will mean for the different ways energy works in our world. In terms of jobs, environmental impact and prices, there’s still plenty of time to be surprised by this administration.