The oil and gas industry in the United States gained a new ally when Donald Trump was sworn in as the 45th President on January 20th.
The President has promised to reverse existing policies that restrict energy development projects on public lands, which will result in more domestic oil & gas production and make the US more energy independent.
The President’s energy friendly policies were evident during the first week of Trump’s presidency when he signed a pair of executive orders, allowing the construction of two oil pipelines that were opposed by President Obama. These two executive orders allow TransCanada to build the Keystone XL pipeline and Energy Transfer Partners to complete construction of the unfinished portion of the Dakota Access pipeline. This construction would allow the United States to become less dependent on foreign oil, as the projects would significantly expand domestic oil and gas production.
By and large the oil and gas industry should be optimistic that the new administration will bring a friendlier environment for drilling, building of pipeline projects and overall expansion.