From Gas to Green and Back: How a Second Trump Term Will Impact US Energy

Published on November 12, 2024

“We will frack, frack, frack, and drill, baby, drill,” former President Donald Trump said in an Oct. 18 speech at a Detroit event. Now that Trump has secured a second presidential term, market watchers are examining his potential effect on the energy sector, from crude oil and natural gas to solar and wind. Since declaring his 2024 candidacy, Trump has pledged more oil and gas production, regulatory overhaul, and scaling back the current administration’s green energy subsidies. The Trump Effect on Oil and Gas Over the past week, U.S. crude oil prices and natural gas prices have been bumpy. At the market close on Election Day, Nov. 5, a barrel of West Texas Intermediate (WTI) crude oil, for example, traded at about $72 on the New York Mercantile Exchange. Nearly a week later, oil prices have slumped below $69....