Will Trump's Win Be a Pyrrhic Victory for the Oil Industry?

Energy policy attorney Jim Noe spoke with Politico about how the incoming Trump Administration will approach the U.S. oil and gas industry. On the campaign trail, President-Elect Donald Trump stated his intent to increase domestic oil production, which rose to record levels under the Biden Administration, through measures such as ending the pause on liquefied natural gas (LNG) export permits and imposing tariffs on various imports. Mr. Noe, who co-leads the firm's Oil and Gas Practice, commented that the change in leadership will also herald a change in federal funding, moving away from solar energy, wind energy and electric vehicle (EV) charging infrastructure and toward oil production.

"That part of the funding will fall by the wayside," Noe said. "The refocus will be on things that are friendly to Republicans and the oil and gas industry."

READ: Will Trump's Win Be a Pyrrhic Victory for the Oil Industry?