(White House Press Release, October 31, 2020)
“Under my Administration, we are no longer beholden to foreign powers or domestic radicals. We are powering our Nation on our own terms.” – President Donald J. Trump
SAFEGUARDING AMERICAN JOBS: President Donald J. Trump will continue to defend the jobs and interests of American workers in energy and other key industries.
- President Trump is fighting misguided attacks on hydraulic fracturing (“fracking”) and other innovative energy and natural-resources technologies.
- Due to public calls to ban or restrict such technologies, the President has directed his Administration to assess the potential effects of such bans or restrictions on American citizens.
- The Administration will assess the potential consequences of fracking bans – such as job losses – on Americans who are directly or indirectly benefiting from the energy industry and other industries, including mining for sand and other minerals.
- The President wants to protect these jobs and help out-of-work Americans who are seeking good jobs.
- No responsible public official should sacrifice vast numbers of American jobs and livelihoods to appease domestic radicals and curry favor with foreign powers.
SECURE AND AFFORDABLE AMERICAN ENERGY: President Trump will continue to ensure Americans have access to dependable, affordable energy to power their homes, cars, and lives.
- In 2019, the Council of Economic Advisers estimated that fracking and other innovations had reduced energy prices and saved Americans $203 billion per year, or $2,500 each year for a family of four.
- These savings disproportionately benefit low-income households, who spend a large share of their incomes on energy.
- Banning or restricting such technologies would increase the prices of gasoline, electricity, heating, and air conditioning.
- These increases would greatly harm senior citizens, middle- and lower-income Americans, and others on fixed-incomes.
- In addition to assessing the potentially devastating effects of fracking restrictions on American jobs and workers, the Administration will assess potential effects on consumers, property owners, local governments, schools, hospitals, and medical clinics.
PROTECTING OUR NATIONAL SECURITY: President Trump will continue to put America First and will guard United States national security through energy independence.
- Reliable, affordable energy is essential to our Nation’s well-being, our economic strength and global competitiveness, and our national security.
- The President is opposed to misguided policies that would take us back to the days of vulnerable dependence on foreign oil and natural gas.
- As a result of the President’s continued push for energy independence and new technologies, our country recently became a net energy exporter for the first time since 1952, with American energy exports reaching an all-time high last year.
- The United States is now the world’s leading producer of both oil and natural gas.
- Crude oil production set record highs both last year and the year before, leaping past the previous record set in 1970.
- The Trump Administration has increased exports of American liquefied natural gas (LNG) by nearly five-fold and has issued more than 20 long-term authorizations for LNG exports.
- LNG exports are reducing the trade deficit by $10 billion each year and are on pace to reduce the trade deficit by $30 billion per year by 2030.
- ·At the same time, America is a world leader in clean air and in reducing energy-related CO2 emissions.
- Our Nation’s air quality has improved by 77 percent over the last 50 years, including 7 percent under President Trump.
- In 2019, the United States had the largest absolute decline in energy-related CO2 emissions of any country in the world.
- Through his strong leadership and common sense policies, President Trump has proven that energy production and environmental stewardship can go hand in hand.