The US wants to achieve energy dominance regardless of what happens to oil prices, according to Deputy Energy Secretary Dan Brouillette in a statement to CNBC. He added that the US is expected to pump more than 13 million barrels of crude oil this year, which will have “a profound impact” on energy pricing.
At the World Energy Congress in Abu Dhabi, Brouillette was quoted as saying: “The president has an ‘all of the above’ strategy. He talks often about energy dominance and the world often asks: what does that mean? It just simply means that we are going to produce as much energy as we can, as cleanly as we can and as affordably as we can.”
Brouillette added that the world price of oil would have no effect on this strategy.
In April, President Trump signed a pair of executive orders aimed at accelerating energy infrastructure projects in the United States. The move could make it easier for oil and gas companies to build pipelines over state agency objections, the Washington Post reported.
One order seeks to change DOT rules about transporting liquefied natural gas by rail and tanker truck while the other says that the president — not the secretary of state — has sole responsibility for approving or denying energy infrastructure such as a pipeline.