From Oil to EVs, Here’s How Trump’s Victory Affects Energy
- Win empowers him to attack climate policies he’s dubbed a scam
- Republican will also push policies to produce more oil and gas
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Donald Trump’s victory promises to shake up US energy and environmental policy, with sweeping implications for oil production, offshore wind development and electric vehicle sales.
The win positions Trump to deliver on his campaign pledges to go after climate policies he’s dubbed the “green new scam” while reorienting the federal government toward pumping more crude and building more power plants. Though some efforts would face long odds on Capitol Hill – where many of Trump’s fellow Republicans would oppose a wholesale repeal of the Inflation Reduction Act’s energy and manufacturing tax credits – Trump can use his executive authority to put other changes in motion. Oil and gas companies are set to be prime beneficiaries.