Abundance and dominance are key words for the Trump administration’s new energy policy.
Speaking on June 29 at an event at the Department of Energy, “Unleashing American Energy,” President Donald Trump recalled how in the past 40 years, Americans have heard “constant claims that the world was running out of oil and natural gas.” Americans, Trump said, have been told the energy crisis could only be solved through “Draconian restrictions.”
In place of a policy and psychology of scarcity, Trump has proposed to unleash America’s “extraordinary energy abundance.” America will seek “energy dominance.”
Certainly, the United States has extraordinary energy resources. According to the Energy Information Administration, the United States leads the world in petroleum and natural gas production.