In the recent U.S. presidential election, Donald Trump and Joe Biden had drastically different policies when it came to addressing climate change and ensuring energy supply. However, they still shared some common ground in their visions – both aimed to expand U.S. energy production and lower consumer prices.
Trump leaned towards developing traditional energy sources, such as oil, natural gas, and coal, by lifting green regulations on extraction to make the U.S. a leading global energy producer. On the other hand, Biden emphasized that high production of oil and natural gas could aid in the U.S. energy transition by investing in renewable energy technologies and enhancing clean energy efficiency to reduce energy costs for consumers.
Trump’s campaign platform focused on easing environmental regulations, deregulating industries, and encouraging the significant increase of oil and natural gas production by fossil fuel manufacturers. He aimed to lower taxes on these producers, reduce tariffs, and ultimately decrease energy prices to revive the U.S. energy industry’s “golden age.”
According to Trump, these actions would not only boost energy production but also stimulate economic growth, create job opportunities, and enhance America’s competitiveness in the global energy market.
In a speech, Trump vehemently criticized an EPA regulation that mandated coal-fired power plants to reduce greenhouse gas emissions by 90% by 2032, threatening closure for non-compliance, calling it disastrous for causing energy shortages and exacerbating inflation. If elected, he vowed to increase domestic energy supply significantly by removing bureaucratic obstacles and swiftly approving new drilling, pipelines, refineries, power plants, and reactors.
Under Trump’s leadership, the U.S. infrastructure development process was accelerated by streamlining reviews to be completed within two years to expedite projects like airports and highways while maintaining necessary environmental protections for clean air and water standards upheld for decades.
If re-elected, Trump intended to roll back Biden’s climate initiatives to further solidify America’s dominant position in fossil fuel production. During his first term, Trump shortened the environmental assessment process for infrastructure projects to expedite development, aiming to redirect funds from previous administrations’ clean energy projects towards critical infrastructure endeavors.
On the other hand, Biden emphasized advancing renewable energy development and supporting the Democratic Party’s “Green New Deal” resolution. Biden’s administration planned to inject substantial investments into power infrastructure and clean energy to boost America’s competitiveness in the green manufacturing sector and strengthen U.S. competitiveness against China.
Moreover, Biden pledged to accelerate the administrative approval processes for low-emission or no-emission energy projects to promote clean energy development.
Biden’s campaign website outlined a government plan to invest in a clean energy economy, simplifying administrative procedures to maximize the benefits of these investments.
Additionally, Biden clarified that he no longer supported a ban on hydraulic fracturing, a prohibition that Biden attempted but failed to implement due to challenges from multiple states. Hydraulic fracturing was crucial for producing oil and gas in the U.S., with a significant portion of new wells utilizing this technology.
Trump proposed rescinding unspent funds under the “Reduce Inflation Act,” which included subsidies for electric vehicles, solar, wind energy, and other clean technologies, redirecting the budget towards vital construction projects rather than what he viewed as futile “green new scams.”
However, any reallocation of funds from the “Reduce Inflation Act” Trump suggested would require congressional approval, with some Republican members already expressing support for the law or specific provisions.
Biden indicated that he would continue to support the “Reduce Inflation Act,” reaffirming his commitment to investing in clean energy should he be elected. His campaign headquarters announced plans for the “first-ever federal ban” to prevent food price hikes and grant federal authorities new powers to enforce this measure.
During Trump’s presidency from 2017 to 2021, the U.S. withdrew from the Paris Agreement, a decision that sparked global controversy. Trump believed the accord severely harmed U.S. interests, including its commercial, labor, and taxpayer sectors, projecting substantial economic losses and job cuts in industrial fields by 2040 if the agreement persisted.
Trump’s campaign team reiterated that, if re-elected, he would once again withdraw the U.S. from the Paris Agreement, a stance starkly contrasted by Biden, who pledged to remain part of the accord.
At the outset of the year, Biden froze new liquefied natural gas export permits for environmental assessments, a move supported by some environmental groups but criticized by the energy industry.
Trump promised to lift this ban upon election, boosting LNG exports to reinforce America’s energy dominance. On the other hand, Biden assured that policy adjustments would align with environmental evaluations to balance conservation and economic growth during exports.