A potential second Trump presidency could see a reversal of Biden administration’s climate policies. This may involve expediting LNG export permits, scrapping methane emission fees, expanding offshore drilling, and withdrawing from the Paris climate deal. It could also involve revisiting vehicle efficiency standards and scrapping tax breaks in climate legislation. Democratic control after the elections may impact these plans.
Former US President Donald Trump will seek to undo much of the Biden administration’s work to fight climate change if he returns to office after November’s election, and launch new efforts to expand fossil fuel production, according to Republican policy experts and Trump’s campaign website.
Here are some of the likely moves:
LNG EXPORT PERMIT PAUSE
A new Trump presidency would likely swiftly end a temporary pause on new LNG export permits that U.S. President Joe Biden implemented this year pending a review of their environmental and economic impacts. The United States became the world’s top exporter of the supercooled gas after Russia’s invasion of Ukraine led U.S. allies to seek alternatives to Russian natural gas, a boon for gas developers but a worry for climate and environment advocates.
METHANE FEE
A Trump White House would likely attempt to scrap an incoming rule from the Environmental Protection Agency to charge the oil and gas industry a $900-$1500 per ton fee for methane emissions. The measure was adopted as a way to reduce emissions of the powerful greenhouse gas, but faces stiff resistance from drillers and pipeline companies concerned it will hurt their bottom line.
MORE DRILLING
A second Trump administration would likely redo the U.S. Interior Department’s five-year offshore oil and gas leasing programto expand the size and scope of drilling auctions. Biden’s administration drew up the existing plan with a record low number of auctions, as part of its broader efforts to usher in a transition to cleaner energy sources.
If Republicans control Congress after November’s elections, a second Trump administration may also move to sell off more federal land to states who want to boost mineral, oil and gas extraction.
WITHDRAW FROM PARIS DEAL
Trump’s campaign has promised to once again pull the United States out of an international pact to combat climate change. Trump withdrew the U.S. from the Paris Deal during his first term, but Biden quickly reversed the move after he was elected and has attempted since to restore U.S. credibility and leadership in global climate efforts.
ELECTRIC VEHICLE MANDATES
A new Trump presidency would likely direct the Environmental Protection Agency to revisit vehicle efficiency standards that are designed to push automakers to transition more quickly to producing battery-powered cars and trucks this decade.
INFLATION REDUCTION ACT CLIMATE TAX BREAKS
Conservative thinktanks Heritage Foundation and the America First Policy Institute are also looking at ways Trump could scrap the tax breaks in Biden’s roughly $400 billion climate legislation, the IRA, so the money could be used for other purposes like funding extensions of the Tax Cuts and Jobs Act which is set to expire in 2025.
But getting this done will depend on whether Republicans control both the House and Senate after November’s elections, and whether they are willing to do away with subsidies that are mostly benefiting Republican states.
Source: ARY NEWS
A potential second term for Trump could see significant changes in US energy policy, with plans to resume LNG export permits and expand fossil fuel production. The administration may seek to scrap methane emission fees and increase offshore drilling. Additionally, withdrawing from the Paris Deal and revisiting vehicle efficiency standards are on the agenda. The potential impact on climate tax breaks and subsidies is contingent on Republican control of Congress. This anticipated shift could have far-reaching implications for US energy and environmental policies.
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