Shortly after Inauguration Day, the Trump administration released its “America First Energy Plan.” One of the new initiatives in the plan is to fund a national infrastructure program from oil and gas revenues:
“Sound energy policy begins with the recognition that we have vast untapped domestic energy reserves right here in America. The Trump Administration will embrace the shale oil and gas revolution to bring jobs and prosperity to millions of Americans. We must take advantage of the estimated $50 trillion in untapped shale, oil, and natural gas reserves, especially those on federal lands that the American people own. We will use the revenues from energy production to rebuild our roads, schools, bridges and public infrastructure. Less expensive energy will be a big boost to American agriculture, as well.”
The plan also emphasizes the necessity of environmental protection:
"Lastly, our need for energy must go hand-in-hand with responsible stewardship of the environment. Protecting clean air and clean water, conserving our natural habitats, and preserving our natural reserves and resources will remain a high priority. President Trump will refocus the EPA on its essential mission of protecting our air and water.”
Additional details of the plan can be seen here, while the Business Insider discussed the plan in a recent article. Much work needs to be done to implement President Trump’s energy plan.
On a personal note: I was fortunate to be in Washington, D.C. for the inauguration and a few meetings with a client on Capitol Hill. We met with two members of the House Energy Committee. They were optimistic about the opportunity to unleash the potential of the U.S. oil and gas industry. They recognize the historic opportunity for the U.S. to provide leadership for the world in accessing and developing energy, and for the U.S. economy to yield the benefits of aggressive development. Should Congress successfully enact enabling legislation, the U.S. economy could be poised for strong growth as energy and technology drive new investments.