Donald Trump, the president-elect of the United States, plans to declare a national energy emergency on the first day of his return to power. This action is part of his government’s plan to increase domestic energy production. The executive order will focus on exploiting Alaska’s resources and ending what one Trump administration official called a requirement to use electric vehicles.
According to CBS News, an official of the Trump administration said: “Within the framework of the executive order to liberalize American energy, the president will end the requirement to use electric cars.” He added: “I have to say that he will end efforts to limit consumer choice in the devices they use every day; Whether it’s a bathroom shower, gas stoves, dishwashers, etc.
The Trump administration plans to increase domestic production of oil and gas to lower prices for American consumers. According to an official of the Trump administration, energy prices affect all sectors of the economy; From the prices that people pay at the gas pump to the cost of goods that use fossil fuels to produce them.
The national energy emergency would create “numerous statutory authorities” that would allow the United States to produce more natural resources, create jobs and economic prosperity, and strengthen national security.
Trump, who has long opposed clean energy and electric car subsidies, has said the United States needs to increase production of conventional oil and gas to lower energy prices for the American people. He emphasized this again in his inauguration speech.
Trump said: “The inflationary crisis was caused by huge costs and rising energy prices. For this reason, today I will declare a national energy emergency. “We will keep digging.”
US crude oil production reached an unprecedented record last year; Even as the Biden administration committed billions of dollars to encourage the move toward clean energy through tax credits for electric vehicles and home improvements to reduce energy consumption.
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According to the US Energy Information Administration, the country produced more than 13.4 million barrels of oil per day in October 2024, about 17% more than when Trump ended his first term in 2021. This number is the highest monthly production of US crude oil since 1920.
Nigel GreenCEO of the asset management company deVere Group said: “Companies that operate in the field of exploration and extraction and oil and gas infrastructure will benefit from reducing legal barriers and increasing investment in domestic production. Shares of US energy giants and mid-caps are likely to be on the path to significant growth; Because markets consider increasing production and profitability. “The global price of oil, which has been sensitive to geopolitical developments before, may witness drastic changes.”
