(American Energy Society/Energy Matters) From experience, we all know that when Donald Trump is president, nothing is certain. It is hard to predict how the energy sector will change, both domestically or around the world. This special issue of Energy Matters looks at past policies, recent campaign rhetoric, and what aides and analysts are saying to project what energy and the environment looks like during the next presidential administration.
- O&G production: President Trump has made it clear that he will support "drill baby, drill." However, oil majors have hit their maximum target output in the Permian and will not increase production at the risk of a lower price point. In other words, the Trump II presidency will not affect oil markets because the current market price of ~$80/barrel is ideal ... for the super majors that are drilling in the Permian. (Note: The Permian Basin boasts some of the lowest break-even prices in the world, typically below $50 per barrel for existing wells, while break-even for NOCs, including Saudi Arabia, is about $96/barrel. The market is exactly where the oil majors want it to be.)
- O&G emissions: The Trump II White House will relax regulations on flaring and leaks from O&G facilities.
- LNG: The current pause on LNG export permits will be lifted.
- H2: Grey hydrogen will get support; for instance, IRA hydrogen tax credits will be rewritten to benefit producers making hydrogen from fossil fuel. (Meanwhile, green and blue hydrogen will need to find a competitive price-point or else these sectors will stall.)- Nuclear: SMRs will get more support than large nuclear (which will face quiet opposition from natural gas). Deployment of SMRs will probably happen first in Virginia, where more data centers are being built faster than any other region in the US.
- Critical minerals/metals: Mining in the US will get support through new federal leases and relaxed regulations.
- Solar and wind: There will be talk about ending wind and solar tax credits but not a lot of action. (Much like the way the Trump I White House avoided ethanol/RFS, there is too much support for wind and solar in the Midwest states to cut the credits entirely.)
- OSW: Permits for offshore wind will be withheld, especially in blue-state coastal regions (similar to the way President Biden paused permits for LNG).
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- Taxes: There will be no extraordinary taxes on energy-intensive goods, but Trump II will propose a carbon tax on Chinese imports.
- Carbon: Federal efforts to assess the impact of carbon pollution (aka "the social cost of carbon") will be abandoned.
- Downsizing government: The Office of Clean Energy will be cut and the scope and scale of the EPA will be reduced.
- In the "hot" seat: California. The White House will attempt to revoke California's authority to set stricter air regulations than other states. Buckle up, this issue is destined for the courts because California will not back down.
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- Disclosures: Large companies will not be asked (by the SEC) to disclose their risks to climate change.
- FEMA: Related to "hot seat" in the Policy section above, California will have a difficult time getting relief funding from FEMA if there is a natural disaster.
- CB: Virtually all federal climate justice initiatives will be cut, especially programs that are directed to support disadvantaged communities (Community Benefit programs, or "CBs"). The federal government will not support energy sovereignty on Tribal lands.
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- EVs: EV tax credits will be limited and possibly abolished.
- LPO: Guaranteed loans will be frozen, or possibly redirected to sectors that strengthen energy independence/"dominance". READ MORE
Related articles (see also White House for information about appointments)
- Trump 2.0: The Engine of Change? (Engine Technology Forum)
- Exxon’s chief has a warning for Republicans (Politico)
- Biofuels groups are looking forward to a Trump White House (RFD TV; includes VIDEO)
- ‘Climate-smart’ farming grants face new fate under Trump: The Biden administration's signature program for tackling climate change through agriculture could be upended next year. (Politico Pro Greenwire)
- Trump trade policy seen as wild card for US soybean farmers (Reuters)
- U.S. biofuel policies expected to change under Trump (Western Producer)
- Biofuels industry hopes for year round E15, improved 45z tax rule under Trump (DRG News; includes AUDIO)
- NAFB Panel Explores Renewable Fuels Future (Energy.AgWired.com; includes AUDIO)
- BMI Says Trump Presidency Breeds New Uncertainty for Oil Price (RigZone)
- ‘Green’ hydrogen, we hardly knew ye (Politico's Power Switch)
- Where Gaetz and Hegseth stand on climate change (Politico's Power Switch)
- Trump pick for Defense secretary voiced climate denial as Fox commentator (E&E News Climatewire)
- Do Tariffs Work? The Answer Isn’t As Straightforward As You May Think (AgWeb)
- Chip Flory: ‘I Don’t Like Tariffs, But My Dislike Has Softened’ (AgWeb)
- Exclusive: Trump's transition team aims to kill Biden EV tax credit (Reuters)
- Listen: What will Trump’s second term mean for US refining and biofuels? (S&P Global podcast)
- Oil Industry Asks Trump to Repeal Major Climate Policies (Inside Climate News)
- From Biden’s tax credits to Trump’s cabinet picks, renewable fuels face uncertain future (RealAgriculture)
- RFA’s White discusses E15 in second Trump admin (Brownfield Ag News)
- Awaiting Trump, US auto execs further temper EV push (AFP/Yahoo!)
- Trump Tariffs Not Popular With Farm Leaders, With Some Exceptions (American Ag Network)
- Trump nominates union-friendly Republican for Labor secretary (Politico)
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Trump taps hedge fund manager Scott Bessent to lead Treasury (Politifo)
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Trump nominates union-friendly Republican for Labor secretary (Politico)
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Trump selects former NFL player Scott Turner to lead housing agency (Politico)
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Trump to nominate Marty Makary to lead FDA (Politico)
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Trump selects budget chief to 'dismantle the Deep State’ (Politico)
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OpEd: What the 2024 election means for California’s air and climate (Coalition for Clean Air)
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Exclusive: Trump prepares wide-ranging energy plan to boost gas exports, oil drilling, sources say (Reuters)
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Trump Tariffs Not Popular With Farm Leaders, With Some Exceptions (American Ag Network)
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DOE writes big check for ‘clean’ hydrogen. Will Trump back it? (E&E News Energywire)
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What’s left to do this year, optimism for the next Congress, and what might happen in the new administration with EPA tailpipe emissions standards. (Ethanol Report Podcast)
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Aviation sector officials warn of Trump effect on green jet fuels (Reuters)
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Grassley calls Trump's promised tariffs on Mexico, Canada, China a 'negotiating tool' (Des Moines Register)
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What Trump’s tariffs could mean for American energy: The prospect of added costs on products has big implications for businesses and consumers across the energy landscape — including at the gasoline pump. (E&E News Energywire)
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What Trump’s new cabinet means for ag, food and energy policy (Agri-Pulse)
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New Year, New President: What to expect for U.S. biofuels policy between now and Inauguration Day (S&P Global)
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Trump Vowed to Kill Biden’s Climate Law. Republicans Say Not So Fast. (Wall Street Journal)
Excerpt form Engine Technology Forum: Renewal of our Renewable Fuels Policy? Reducing carbon emissions can be accomplished in many ways; not just by electrification. The EPA’s tailpipe only emissions policy ignores the life cycle emissions policy that would lead to more practical options by boosting advanced renewable biofuels. EPA’s unwillingness to embrace a growth-oriented renewable fuels policy has failed everyone up and down the supply chain. Will the new Trump administration embrace domestically produced low carbon fuels and follow suit with supportive policies? Let’s hope so.
Renewable fuel producers and petroleum interests have often been at odds debating domestic energy policy. Finding some common ground would go a long way to helping ensure both futures for more traditional fuels and more renewable fuels. It should not be an either-or proposition. Renewable fuels are key to a sustainable future for all internal combustion engines.
Start your engines for new Auto and Commercial Truck Emission Policy. The Biden Administration implemented its climate policy by prescribing automotive and heavy-duty truck emissions policies that follow a similar approach: Adopt aggressive rules with challenging deadlines that push electrification, find out that charging infrastructure is lagging and car and truck buyers aren’t buying it as projected, compliance deadlines and costly penalties loom for all, and manufacturers’ planning and investments are upended. And, as we are now learning, sales of traditional combustion vehicles sustain all.
Automotive Policy: something’s got to give. Automakers are facing a multitude of challenges as they witness what happens when policy mandates run into market realities. Aggressive emission standards adopted by President Biden in March require automakers to produce fewer gasoline powered cars and more electric vehicles. Many factors (inflation, access to charging infrastructure) all contributed to a weaker-than-expected EV market that is expected to reach 9-10% of all new vehicle sales this year. This is substantially off pace to achieve President Biden’s goal of 50% of all new vehicle sales being EVs by 2030.
Add to all of that pressure California’s influence that will phase out the sale of gasoline powered vehicles in that state by 2035 conceivably followed by the dozen or so states that are following California. Together these states make up about 40% of the nation’s car market.
Along comes President Trump who has pledged to “eliminate the EV mandate on day 1.” But what does that mean? There is not an EV mandate per se, but rather the stringency of the light-duty car fleet emissions rules effectively forces manufacturers to sell more EVs or hold back on their gasoline vehicle sales. Adding to the uncertainty is the relationship of President-elect Trump and Tesla founder Elon Musk, who has the majority of the EV market in the country. Will Trump end the $7,500 tax credit on EVs that runs until 2032? How will California and its follower states respond to a new automotive policy? How will litigation outcomes impact policies going forward (23 states have challenged EPA’s Heavy Duty truck rules; 15 states are suing California for its truck rules)?
Rescinding or substantially modifying the most recently adopted light duty multi-pollutant rules that the EPA issued earlier in March to ease emissions standards seems to be a likely point of action in the new Administration. With the slowdown on EV adoption currently underway coupled with the new Trump Administration’s likely views on EVs, manufacturers will continue to be sustained by solid sales of their traditional combustion (gas, diesel) vehicles, and improvements in these traditional vehicles and introduce more hybrid technologies. Automakers have substantial investments and their own corporate commitments in zero emissions technology and battery manufacturing and charging infrastructure. These aren’t going away.
Trucking Policy: Something’s got to give here too. Truckers are hopeful that deregulatory and economic boosting policies in the Trump Administration help lift the trucking sector out of the depressed freight market. And it will be just in time as the industry faces a slew of new emissions rules and greenhouse gas reduction requirements from California and the EPA for new vehicles and future fuels.
The EPA’s new greenhouse gas rules for heavy-duty trucks (“Phase 3”) adopted in March effectively dictate starting in 2027 an increasing percentage of fleet sales be zero emissions technology, tied to the sale of conventional diesel and natural gas trucks.
California’s adoption of the Advanced Clean Truck Rule (ACT) and the Advanced Clean Fleets Rule (ACF) together respectively compel manufacturers to produce and sell and fleets to buy zero emissions technology in increasing percentages, which began this year in California. Ten other states have adopted the ACT rule, and nine states are on board with California’s more stringent emissions standards for nitrogen oxides rule. Some reports from California have suggested that already 10-months into the first year of the ACT rule, fleets can’t get the diesel trucks they want to order because of the rules limiting manufacturers from offering them.
And if this is not enough, the industry must make equipment acquisition decisions in 2025 and 2026 in advance of a new EPA emission rule that takes effect in 2027. In previous years facing an emissions milestone, major pre-buys of new equipment occurred in the preceding years, muting any environmental benefit from the new generation of even nearer-to-zero emissions levels.
More so than the auto sector, the commercial trucking industry transition to zero emissions technology is far more challenging. Thanks to the smaller size of the industry overall, the significantly higher infrastructure demands, costs of new equipment in general and zero emissions technology in particular, truckers are making business not emotional decisions. The growing number of state policies impacting vehicle purchase type and use are ultimately hampering both manufacturers and truckers; but can there be a resolution for all?
Truck OEMs, like automakers, have many investments and commitments at stake. They are producing an increasing range of fuel-efficient conventional engines and zero emissions technology for their customers. They too have taken on responsibility to help build out a nationwide heavy-duty truck electric charging infrastructure. These will succeed at some level in the marketplace as one of many options available. READ MORE
Excerpt from Politico: Exxon Mobil Chair and CEO Darren Woods urged the incoming Trump administration to avoid making turbulent climate policy swings — and he pushed the president-elect to reject carbon border taxes favored by some GOP lawmakers.
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But some members of his party, including a sizable number of Republicans in Congress, have spoken out against wholesale repeal of the IRA, citing the economic benefits it has delivered to their districts.
Woods, who took the top job at Exxon after his predecessor Rex Tillerson became Trump’s first secretary of State, said he opposed carbon border tariffs, which would impose fees on imports that are produced through processes with higher carbon emissions than in the U.S.
That type of tariff has been touted by Robert Lighthizer, who was Trump’s first-term trade representative, as well as some Republicans in Congress who said it would benefit U.S. companies whose products are cleaner than their foreign competitors. It is widely viewed as a response to the European Union’s carbon border adjustment mechanism, which would tax imported raw materials from countries that do not have a price on carbon emissions.
“I think it’s a bad idea. It’s a really bad idea,” Woods said. “I think carbon border adjustment is going to introduce a whole new level of complexity and bureaucratic red tape. I don’t think it’s going to be very effective.”
Instead, he said, a regulatory system based on the carbon intensity of products would be a better solution. That would still require the government to enforce some basic accounting standards and a framework assessing the carbon dioxide footprint across a range of products.
“Regulation will play a really important part of that,” Woods said.
The EU’s carbon border adjustment mechanism has emerged as a COP29 flash point. China, Brazil, India and South Africa lodged a formal complaint against governments using trade measures to curb emissions, arguing it raised the costs of deploying green technology in low- and middle-income countries.
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Woods’ preferred approach on carbon intensity echoes several legislative proposals floating around Congress. Those are similar to other models that effectively reduced sulfur content in marine fuel oil and automotive diesel.
“Once we can specify carbon intensity, you can then unlock the capability of industry to meet those carbon intensity specifications, and every government can set that level based on their set of circumstances in their country,” Woods said.
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Despite Biden’s focus on green policies, the U.S. still became the world’s top oil and gas producer during his term and hit production levels unequaled by any other country in history. READ MORE
Excerpt from RFD TV: The Renewable Fuels Association says they have high hopes for issues like year-round sales of E15.
“He has supported year-round E15 from the start, so we’re certainly going to urge him in the months ahead, to work with Congress. You know, it can’t be an executive order solution this time…it’s going to have to be a legislative solution,” said Troy Bredenkamp.
The Biden White House only approved year-round E15 for several states. When it comes to electric vehicle mandates, Bredenkamp says he is hopeful a Trump White House can reverse some of those rules. READ MORE
Excerpt from Reuters: Trump tariff plans could cool US vegetable oils imports; Lure of cheap domestic soybeans could spur US crush expansion; Trump changes to Biden-era clean energy law remain unclear; Tariffs may send construction costs soaring, analysts say -- American farmers are worried that President-elect Donald Trump's sweeping tariff plans will curb their access to top soy buyer China, but tariffs could also lure companies to build more U.S. crushing plants, hungry for domestic supplies.
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Such expansion has faltered over the past year, as the U.S. market was flooded with cheaper global supplies of diesel feedstocks like used cooking oil (UCO) from China, tallow from Brazil and canola oil from Canada.
Now, these supplies are likely targets for Trump's tariffs while global supplies of other vegoils are tightening and prices climbing, analysts said. USDA data projects that global rapeseed oil supplies will shrink by 13% over the coming year with sunflower seed oil stocks down 24%. Indonesian palm oil shipments have dropped as that country plans to boost biodiesel production next year.
Potential new demand helped send Chicago Board of Trade soyoil futures jumping nearly 6% last week to the highest in seven months, traders said.
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Hefty global competition could dent incomes for farmers who just harvested the second-largest U.S. soybean crop ever at a time when crop prices hover near four-year lows.
If tariffs prompt retaliation by global U.S. soybean importers, big soy processors such as Bunge Global (BG.N),and Archer-Daniels-Midland Co (ADM.N), could benefit from a larger and likely cheaper supply of beans for them to crush in the U.S., industry analysts said.
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"If Trump goes the tariff direction, it is friendly for the U.S. crushing industry and capacity," said Kent Woods, owner of advisory firm CrushTraders. Woods added that U.S. soyoil demand would also rise if Trump blocks imported oils from benefiting from renewable fuel tax credits.
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Crushers blame the delays on the flood of biofuel feedstock imports, soaring construction costs and the end of cheap financing as interest rates surged to a 23-year high.
U.S. farmers looking to boost domestic soyoil demand have unsuccessfully tried to get Biden's Treasury Department to exclude imported biofuel feedstocks from IRA subsidies known as 45Z. It remains too soon to know if Trump will try to alter the IRA's clean energy provisions or limit imports of used cooking oil, said Susan Stroud, founding analyst at No Bull Ag consulting.
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Soy processors also expect higher construction costs next year. Tariffs on imported steel and processing plant equipment could prove unpalatable for crushers that have yet to break ground. READ MORE
Excerpt from Western Producer: Chris Hairel, vice president of consulting with Argus Media, said there are three key biofuel policy issues that could be affected by Trump’s government.
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The first is what will happen with the U.S. Environmental Protection Agency’s (EPA’s) renewable volume obligation (RVO) for 2026 and 2027?
The RVO establishes how much ethanol, biodiesel and renewable diesel the U.S. is required to produce and consume nationally.
The biofuel sector was already bitterly disappointed with the 2023, 2024 and 2025 targets established under outgoing President Joe Biden’s administration.
The mandates were far lower than anticipated and caused Renewable Identification Number (RIN) values to plummet. RINs are credits that are used to fulfill RVOs.
Hairel anticipates the biofuel sector is in for even further disappointment under a Trump administration with the EPA establishing less aggressive RVOs than they would have under a Biden administration.
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RIN values during Trump’s previous presidency were typically under US$0.10 per gallon, due in a large part to the small refinery exemptions.
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The second key policy issue will be the small refinery exemptions that became popular under the previous Trump administration, which exempted some refineries from having to comply with the RVO.
Those exemptions wiped out about 20 percent of the national RVO requirement, significantly reducing demand for biofuels and driving down RIN values.
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The final key policy issue would be whether Trump’s EPA allows blending to E15 in the gasoline pool.
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In general, Hairel anticipates that a Trump government will shift biofuel policy away from a focus on low carbon intensity and more towards a focus on supporting agriculture.
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Hairel said the other important thing to watch is the transition from the $1 per gallon blender’s tax credit, which expires at the end of the year, to the 45Z producer’s tax credit.
He noted that the final guidance on the new credit has not been released and that is unlikely to happen until after Trump’s inauguration in January.
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He also wonders if the existing blender’s credit will be extended since the new 45Z credit likely will not be implemented on Jan. 1, 2025.
It is even possible that the two credits could be stacked for a while, which would help projects planned for the red states.
Finally, Hairel believes there is an increased likelihood of individual states adopting biofuel incentive programs if they don’t see enough happening at the national level. READ MORE
Excerpt form Energy.AgWired.com: Leaders from the renewable fuels industry took questions at the National Association of Farm Broadcasting Convention in Kansas City on Wednesday about what the future looks like for them now with a new administration and a new Congress.
Moderator Mark Dorenkamp of Brownfield led the panel with Renewable Fuels Association President and CEO Geoff Cooper, National Corn Growers Association CEO Neil Caskey, National Oilseed Processors Association CEO Kailee Tkacz Buller, and Clean Fuels America CEO Donnell Rehagen. One of the first questions they were asked was what they thought about President-elect Trump’s pick for EPA Administrator, former Congressman Lee Zeldin of New York, who was not friendly to the RFS when he was in office.
“We’ve been through this before with Trump 1.0 and Administrator Pruitt, not a particular fan of renewable fuels, so we’ve got our work cut out for us, there’s an education process that’s going to be happening,” said Cooper.
“I’m looking at it as an opportunity,” said NOPA’s Buller, who served in the Trump 1.0 administration USDA. “The more we can align on our messaging as a holistic biofuels industry, the better that is for all of us coming into the Trump administration.”
Caskey noted that much of what they are working for right now will require legislative solution like the Next Generation Fuels Act and permanent E15. “So we got some good news with Senator Thune being elected majority leader, he’s a good friend of agriculture and someone who’s going to champion our issues in Congress.”
Rehagen said whatever opposition Zeldin had to the RFS in Congress was years ago and things are different now. “One of the biggest changes has been the investment that the oil and gas refiners have made in our industry and that changes the dynamics,” said Rehagen.
A big topic was what will happen now with the Inflation Reduction Act and the 45Z tax credit, sustainable aviation fuel, tailpipe emissions standards, and lots more. READ MORE/LISTEN
Excerpt from RigZone: In a BMI report sent to Rigzone by the Fitch Group recently, analysts at BMI warned that the Trump Presidency “breeds new uncertainty” for the Brent oil price.
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“Although Trump will likely support the domestic oil and gas sector, not least via looser regulation, this is unlikely to materially alter the level of U.S. production growth in the short run,” they added.
“Output is influenced by myriad other factors, such as oil prices, input costs, and shareholder pressures and these will take precedence over the course of the year,” they continued.
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Hansen (Ole Hansen, Saxo Bank’s Head of Commodity Strategy) went on to state, however, that U.S. crude production “will likely only increase if oil producers see a profit, and with WTI currently trading near $60, the incentive to increase production further is very limited”. READ MORE
Excerpt from Politico's Power Switch: ‘Green’ hydrogen, we hardly knew ye: The incoming Trump administration could quash the nascent “green” hydrogen industry before it even gets off the ground, writes Brian Dabbs.
Congress has invested billions of dollars in the industry, which aims to make hydrogen from renewable energy or natural gas with carbon capture. Those projects are at risk if the sector sees less federal support under Trump, who suggested on the campaign trail that hydrogen cars could result in a “massive bomb-bang drop” (translation: explode).
Since the election, stocks have tumbled for large hydrogen companies like Plug Power, Ballard Power Systems and Global X Hydrogen. READ MORE
Excerpt from Politico's Power Switch: Let’s start with Hegseth: While the Army veteran and conservative commentator has little defense experience and has never run an organization larger than a small nonprofit, he does have a long history distorting and denying climate research, writes Scott Waldman.
Hegseth has described climate research as a vast left-wing conspiracy to impose government controls on American society. It’s liberals’ way to “play God,” he said.
If Hegseth’s comments translate into downplaying the role of climate science at the Pentagon, it could be bad news for the nation’s defense system, analysts say. The Defense Department has long used climate research in its planning and threat assessments, helping the military identify national security risks, protect troops from extreme heat, plan for more intense storms and prepare for harsher combat situations.
Then there’s Gaetz: Unlike Hegseth’s stance, the Florida Republican’s record on climate doesn’t exactly toe the Trumpian climate-change-is-a-hoax line — though he’s long been a loyal supporter.
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Gaetz has said repeatedly that climate change is real and driven by human activity. There “is a scientific consensus that the Earth is getting warmer. There is a moral consensus that we should do something about it,” he wrote in a 2020 autobiography.
“And I think history will judge very harshly those who are climate deniers,” he told me in 2017.
But Gaetz has also introduced legislation to abolish the Environmental Protection Agency, voiced opposition to climate rules and called the Green New Deal resolution a “socialist takeover.” READ MORE
Excerpt from Reuters: The team views the consumer EV credit as an easy target, believing that eliminating it would get broad consensus in a Republican-controlled Congress.
Trump could use the cost savings from killing the credit to help pay for the extension of trillions of dollars in tax cuts from his first term that are set to expire soon, the two sources said. Congressional Republicans plan to take up the broader tax bill as one of their first actions.
Energy transition team members expect the Republican Congress will deploy a legislative measure known as reconciliation to avoid relying on Democratic votes. Biden used the same tactic to pass the IRA. READ MORE
Excerpt from S&P Global podcast: Conventional oil refiners, many of which have invested in renewables, are hopeful that Trump will reduce support for electric vehicles, propping up demand for conventional fuels. Biofuels producers are looking for Trump to maintain the tax incentives that have incentivized investments in the industry under Joe Biden's administration, and are hoping for an expansion of E15 blended gasoline. However, tariffs remain the wild card.
Jeff Mower discusses these developments with senior downstream editor Janet McGurty, policy editor Eamonn Brennan, and US biofuels and feedstocks price editor Guadalupe Nunez. READ MORE
Excerpt from Inside Climate News: Perhaps most importantly, API asked the incoming administration to repeal the tailpipe and fuel economy standards for cars and trucks that aim to cut carbon dioxide emissions in the transportation sector, the nation’s largest source of climate pollution. The list also includes revoking a waiver that allows California and 12 other states to set tougher rules for vehicles. These rules together are expected to speed the nation’s transition to electric vehicles and significantly lower carbon dioxide emissions. READ MORE
Excerpt from American Ag Network: Troy Bredenkamp, senior vice president of government and public affairs at the Renewable Fuels Association, says “we are just looking for fair trade across the board…we’re not necessarily fans of a tariff approach to that.”
American Farm Bureau President Zippy Duvall says “when tariffs are put on other countries, a lot of times, agriculture communities carry the brunt of the retaliation of what comes with those tariffs.”
But RFA’s Bredenkamp says sometimes tariffs are justified, like with Brazil’s 18 percent tariff on U.S. ethanol. “And we would certainly expect President Trump and his administration to realize that is an unfair playing field and take the appropriate response, which could be pretty significant tariffs on any Brazilian products coming into the US,” according to Bredenkamp.
In the meantime, Bredenkamp argues China should not get a U.S. tax break for its used cooking oil exports into America to make sustainable aviation fuel. “We would fully expect the Trump Administration to take a look at that and to take action to maybe a lot of that back or to curtail a significant portion of that cooking oil that is currently coming into the US,” says Bredenkamp.
The Biden Treasury Department missed its deadline this month to issue so-called 45Z tax rules governing SAF feedstock tax breaks. It will now likely be up to the incoming administration to do so. READ MORE
Excerpt from Washington Post: Trump followed that move on Friday by naming hedge fund executive Scott Bessent as his choice for treasury secretary following days of hand-wringing over the position that is fifth in the line of succession and of keen interest to global investors. He also said he’d bring back his first-term budget director, Russell Vought, a key author of the Project 2025 policy blueprint who has advocated for unilaterally rejecting spending that Congress authorized, firing federal workers and taking control of independent regulators.
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Trump also announced plans to bring back controversial foreign policy aide Sebastian Gorka, who left Trump’s first White House under then-Chief of Staff John F. Kelly. Alex Wong, a former representative for North Korea and a State Department adviser, was named to return as the principal deputy to the national security adviser — a position Trump has asked Rep. Michael Waltz (R-Florida) to fill.
Trump’s choice for labor secretary, Rep. Lori Chavez-DeRemer (R-Oregon), flipped the usual Republican pattern because organized labor lobbied for her while business leaders objected. He named Janette Nesheiwat, a medical contributor on Fox News, as his pick for surgeon general; former congressman Dave Weldon to lead the Centers for Disease Control and Prevention; Johns Hopkins surgeon and public health expert Marty Makary as Food and Drug Administration commissioner; and retired football player and former Texas state representative Scott Turner for secretary of housing and urban development. READ MORE
Excerpt from Politico: But some of Trump’s populist campaign promises fall in line with progressives’ own aspirations. Those include making in vitro fertilization treatments free, ending taxes on tips and capping credit card interest rates. He has also promised for years to protect the popular programs of Social Security and Medicare. At times, he has promoted directing Medicare to negotiate drug prices.
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Progressives are clear-eyed that with a Republican-controlled House and Senate, many, if not most, of Trump’s populist campaign promises will not happen — if he were ever serious about them to begin with. But they believe that his voters want him to follow through. They also lack any power in Congress and are desperate for even an outside chance to influence policy.
Adam Green, co-founder of the Progressive Change Institute, said that his group conducted polling in the critical battleground states of Pennsylvania and Michigan during the final week of the election. He said the surveys, done in conjunction with the liberal firm Data for Progress, found that the majority of Trump’s voters want him to crack down on price gouging, raise taxes on billionaires, and strengthen anti-monopoly laws.
“Trump actually made promises to people, like helping those on Social Security, ending taxes on tips, and capping credit card interest at 10 percent,” he said. “His own voters believe he has a mandate on that, plus higher taxes on billionaires and big corporations. So let’s hold a mirror up to him and ask, are you going to be a hypocrite or not?”
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“There’ll be places where resistance is appropriate,” said Warren (Sen. Elizabeth Warren (D-Mass.)). “For example, if Trump follows his V.P. JD Vance in trying to ban access to abortion nationwide through the FDA, there will be massive resistance. If Trump follows through on his promises for more tax cuts for billionaires and billionaire corporations, we’re going to be in that fight all the way.” READ MORE
Excerpt from E&E News Energywire: Trump’s views on hydrogen hubs are not fully known, although his campaign website criticizes the fuel as “untested” and “plagued with safety and effectiveness concerns.” He’s also said he wants to claw back, or “impound,” infrastructure law funding.
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Some of Trump’s picks for top Cabinet positions have been supportive of hydrogen, however.
Among the backers of the hubs are North Dakota Gov. Doug Burgum (R), Trump’s choice to lead the Interior Department, and a new energy council.
Any efforts by Trump to stall the hubs also could face opposition from major oil companies. READ MORE
Excerpt from Reuters: The expansion of green jet fuels could suffer a significant set-back under president-elect Donald Trump, according to aviation officials, who fear the reversal of tax credits needed to kick-start the sector.
The comments by members of airlines trade body IATA and American Airlines (AAL.O), opens new tab at an airlines industry conference in London are among the first assessments of what a Trump presidency could mean for nascent clean jet fuels. READ MORE
Excerpt from Agri-Pulse: President-elect Donald Trump is setting up a cabinet of unusually diverse views and backgrounds that together could have a far-reaching impact on the food and agriculture sectors. Farm groups will be counting on his pick to lead USDA, Brooke Rollins, to be an advocate for ag within an administration. North Dakota Gov. Doug Burgum could be a key ally on energy policy. READ MORE
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