The oil industry leans to the GOP, but many recall the trade tensions and uncertainly that characterized the former president's term in office.
The oil industry leans to the GOP, but many recall the trade tensions and uncertainly that characterized the former president’s term in office.
“The flip side of that is that he tends to favor a protectionist trade policy and is likely to impose tariffs if he thinks the U.S. is getting a raw deal,” he added. “That’s going to be a positive selling point for some, but there is always the risk that tariffs could turn into a trade war.”Trump has been a staunch backer of the oil and gas industry on the campaign trail, pledging in his stump speeches to “drill, baby, drill, right away.
But behind the scenes, interviews with more than a dozen industry executives showed many viewed a possible major realignment of federal energy policy to be part of the new normal — “like a change in the weather,” said one natural gas executive who was granted anonymity to discuss relationships in D.C.
Overall, the oil industry favors Republican control of the government and a light touch on their activities. Executives at the conference repeatedly complained about the Biden administration’s pause on new liquefied natural gas export permits and called the EPA’s new rule cracking down on methane emissions “unworkable.”
“I think the record is pretty clear here,” she said, citing government data for the jobs growth under Biden. She added, “President Biden did that all while enacting the most sweeping climate change legislation in our country’s history — proving once again that job growth and fighting climate change go hand in hand.”
Many of their replacements were considered “the B team,” and a new administration would likely have to settle “a C or D Team” staff taking the helm at key agencies, said this person, who requested anonymity because he wasn’t authorized to speak on the record..
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