President Donald Trump announced plans on Thursday, June 28 to launch a “golden era” of energy policy, which included expanding available offshore oil reserves, reviving the nuclear power sector, and reducing restrictions on energy exports.
Trump said that under his administration, United States will see an era of American “energy dominance” through energy exports.
“We will export American energy all around the world,” said Trump during a speech at the Energy Department’s headquarters.
“These energy exports will create countless jobs for our people, and provide true energy security to our partners, friends, allies all across the globe.”
He announced plans to lessen barriers to the financing of “highly efficient overseas coal energy plans” and increase liquified natural gas exports to Asian markets and coal exports to Ukraine.
Trump also said his administration had just approved a new petroleum pipeline to Mexico, which they believe will boost American energy exports.
Trump had domestic energy plans in mind as well.
He said the Department of the Interior is expanding areas available to oil and natural gas companies for offshore drilling.
“America will be allowed to access the vast energy wealth located right off our shores,” he promised.
Trump also has plans for “a complete review of U.S. nuclear energy policy,” that he said would help the United States find “new ways to revitalize this crucial energy resource.”
Although conventional nuclear power plants have been on the decline around the world, the Trump administration could be looking at alternatives to uranium fuel, such as thorium, which is much safer, more abundant, and easier to process than uranium.