If Donald Trump wins the presidency next year, he could scale back on federal commitments and rules that have pushed to transition the U.S. to clean energy by 2050.
- A new Harvard-Harris poll released on Friday shows former President Donald Trump (45%) beating President Joe Biden (40%) in the upcoming 2024 Presidential Election—which is still 16 months away.
- Trump confirmed in a recently released campaign video that his administration would reverse Biden’s policies that put negative pressure on the oil industry and pushed the economy toward electric vehicles.
- He would not necessarily have the power to overturn the 2021 infrastructure bill or the 2022 Inflation Reduction Act unless he gains both chambers of Congress, but he would have the ability to reverse EPA and Treasury Department environmental decisions, Axios argues.
- Trump would also likely push for domestic oil and gas production while disincentivizing funding and incentives for climate and infrastructure policies.
Why It’s Important
A key part of Trump’s appeal in the upcoming campaign is his push to defend automotive jobs and increase domestic oil production, as part of his appeal to states like Michigan and North Dakota. But that is also part of Trump’s wider approach to energy policies. According to The New York Times, Trump rolled back hundreds of climate rules and policies during his four-year term, with environmental groups claiming that his policies have resulted in an increase in global greenhouse gas emissions and lower air quality.
Trump’s “America First” energy policy has focused heavily on deregulation and helping businesses, increasing jobs, expanding domestic fossil fuel production to lower dependence on foreign adversaries like Russia, and lowering prices for American consumers. The U.S. Energy Information Administration’s data shows that national average gas prices generally stayed below $3 per gallon during his time in office, while gas prices have generally fluctuated between $3 and a historic record of $5.02 under Biden. The current national average is $3.64 per gallon.
Backing Up A Bit
The Biden administration has pushed heavily for climate change policies. On August 16, 2022, President Biden signed the Inflation Reduction Act and signed $369 billion in climate research and spending into law in an effort to help the U.S. meet UN climate goals of reaching net zero emissions by 2050. This came after Biden severely restricted domestic oil production on new and ongoing drilling projects on public land through executive orders shortly after taking office in early 2021.
This marked a severe change in policy from President Trump’s policies. He publicly announced that the country was pulling out of the Paris Climate Accords in June 2017 and reneging on the U.S.’s commitments from the Obama administration. Trump claimed the accords placed an “unfair economic burden imposed on American workers, businesses, and taxpayers.”
“Under President Donald J. Trump’s leadership, the United States became the number one producer of oil and natural gas on earth, achieving American energy independence and delivering historically low costs for oil, gas, diesel, and electricity to consumers and businesses … He approved the Keystone XL and Dakota Access, pipelines, opening federal lands and offshore areas for responsible oil and gas production, and ending the unfair and costly Paris Climate Accord,” says Trump’s campaign website.