The Energy Agenda: The First 180 Days of Trump’s Second Term

2 min read

Donald Trump made energy policy a cornerstone of his 2024 presidential campaign — a symbol of both his economic priorities and his vision for U.S. global leadership. He pledged to make the country the world's lowest-cost energy producer, and not only to restore U.S. energy independence but to achieve energy dominance.

Among the strategies advocated by the campaign were a dramatic expansion of fossil fuel production, a rollback of environmental and permitting restrictions, support for nuclear and hydro power, and opposition to wind and electric vehicle mandates.

These strategies resonated with voters concerned about rising energy costs and regulatory overreach. They had industry appeal, especially in regions that have been hard hit by the competition from renewables. And they offered a stark ideological contrast to the Democrats’ climate-focused policies.

When we published our initial views on the likely industry winners and losers shortly after the election we segmented the energy industry: tagging oil and gas as a winner and renewables as a loser and projecting a mixed outlook for utilities. Now that the first six months of Trump 2.0 are behind us, it seems a good time to revisit our initial views and to evaluate whether the Trump administration has delivered on its campaign promises.

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