Since taking office, President Trump has defined and started to implement a new energy strategy for the United States (US), aimed at supporting fossil fuels, the nuclear industry, and the critical minerals sector.
The implementation of this strategy is conducted through executive orders, including facilitating oil and gas projects (particularly in Alaska), supporting the coal industry, expanding plans for the US nuclear industry, and actions to accelerate the development of critical metals projects. Regarding renewable energy sources, while hydropower and geothermal energy are officially promoted, they have so far received no concrete support. Wind and solar power are under attack, as they are considered unreliable and uncompetitive. Offshore wind has been the subject of specific measures aimed at hindering its development.
The “Drill, Baby, Drill” agenda faces challenges, with limited growth in the oil industry due to low prices, leading to production and exports that are expected to level off and even decline slightly in the coming years. Falling oil prices are also limiting growth in gas production, which is nevertheless supported by increased export capacity and rising consumption in the electricity sector. US gas production and, even more so, exports are expected to grow in the short and medium term. Trade negotiations tied to tariff announcements are being used as a way to promote gas and, more broadly, American energy products exports.
As part of his strategy, President Trump succeeded in passing the One Big Beautiful Bill Act (OBBBA), which ends most of the clean energy tax credits in the 2022 Inflation Reduction Act (IRA).
About the author:
Thibault Michel is a Research Fellow at Ifri’s Center for Energy & Climate since January 2024.