WSJ: Pres Trump is looking to enact pro-fossil fuel executive orders

The Wall Street Journal is reporting that President-elect Trump is preparing pro-fossil fuel executive orders ahead of his inauguration next week. Some highlights:

• Executive Orders on Energy: President-elect Trump plans a series of executive orders to promote fossil fuels and reverse policies supporting electric vehicles (EVs).
• Drilling Policies: Trump is expected to instruct agencies to unwind President Biden’s restrictions on offshore and federal land drilling.
• Emissions Rollback: Plans include reversing Biden-era tailpipe emissions rules and challenging California’s ban on gas-powered cars by 2035.

It is expected that Trump would create a National Energy Council to oversee oil, gas, and electric power policies, led by nominees Doug Burgum and Chris Wright.

Is also expected to withdraw the U.S. from the Paris agreement again, as he did in his first term.

Other details from the report:

• Natural Gas Exports: Plans to lift the moratorium on new liquefied natural gas (LNG) export projects imposed by Biden.
• Congressional Support: With a Republican-controlled Congress, legislative action may assist in reversing Biden’s energy policies through the Congressional Review Act.
• Court Challenges: Anticipates legal battles over several measures, including reversing Biden’s drilling bans and California’s EV rules.

The President elects actions aim to fulfill Trump’s pro-oil campaign message of “energy dominance,” which resonated with voters in key states like Pennsylvania and Michigan.

This article was written by Greg Michalowski at www.forexlive.com.