Drilling Dilemma: How a Second Trump Term Might Reshape US Oil and Gas
The rumble of drilling rigs might echo differently depending on who stands in the Oval Office next year. While energy policy isn't the loudest campaign chant, a second Trump term could bring major shifts for America's oil and gas industry. Let's explore the potential tremors under Trump 2.0, from tightening environmental rules to reshaping drilling landscapes.
The Environmental Protection Agency last month announced new rules to cut emissions from oil and gas operations, including a ban on routine flaring at new wells, requirements for comprehensive monitoring for methane leaks and new standards for equipment, such as controllers, pumps and storage tanks.
The first Trump administration in 2020 reformed the regulations for environmental approvals in 2020, with the aim of expediting infrastructure projects including oil and gas pipelines and LNG plants.
The administration has slowed the pace of onshore lease sales, and imposed new restrictions on oil and gas development in Alaska, including the cancellation of issued leases.
Chesapeake Energy confirmed its deal to merge with Southwestern Energy in an all-share deal valued at about US$7.4 billion.