Tuesday, February 07, 2017

Trump’s Energy Policy Is Scary to Multinational Petroleum Interests

This optimistic – scary to multinational petroleum interests – pair of graphs were on the last slide in a March 1956 presentation by M. King Hubbert to the American Petroleum Institute (Credit: forbes.com) Click to Enlarge.
Trump’s plan for American energy strength is rightfully causing angst among people who believe that renewable energy is the inevitable path forward to reduce society’s dependence on fossil fuel.  It is likely to cause even more fear among the people who are betting on fossil fuel to continue dominating the world’s economy and geopolitics.

Trump’s campaign statements and careful attention to Senate confirmation hearings for his nominees for EPA Administrator (Scott Pruitt) and Secretary of Energy (Rick Perry) lead me to the conclusion that we are headed for an era of cheap and abundant power.  Trump and his key cabinet members have promised to work to remove artificially imposed barriers to developing increased supplies. They plan to replace those barriers with pragmatic solutions and regulations based on science and the rule of law.

Even if the brief summary of the plan fails to specifically mention nuclear energy or uranium, the general strategy plays directly into atomic energy’s strongest suit.  It doesn’t have much of a political backing – yet – but its scientific and engineering potential is unmatched.

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