Donald Trump’s first day as president saw him take action on the energy industry, but there were no surprises, says Rystad Energy’s Head of New Energies Research…
Donald Trump’s first day as president saw him take action on the energy industry, but there were no surprises, says Rystad Energy’s Head of New Energies Research, Artem Abramov.
“In line with his election promises, Trump declared a national energy emergency and set out a general policy direction aimed at accelerating domestic oil and gas supply, immediately revoking former President Joe Biden’s pause on new LNG permitting.
“In terms of the impact on low-carbon energy sectors, our assessment of the pack of orders issued on Day One reveals no surprises.”
Rystad has identified four major immediate implications for renewable energy and cleantech sectors:
• Suspension of offshore wind permitting and Paris Agreement exit – in line with expectations but with potentially more significant international implications in his second term, as it could further strengthen support for anti-climate policies in Europe and other regions.
• Similarly, Trump issued immediate suspension of offshore wind energy permitting in line with his campaign promises. In essence, the chances of any new offshore wind developments in the US are zero for now. Moderate risk amid the unfavorable investment climate is present for 10.5GW of projects which secured necessary permits but have not reached investment decisions. The
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