President Trump has promised to roll back federal regulations to help U.S. oil and natural gas and to open up new areas for development. The administration's energy priority is to "unleash America's $50 trillion in untapped shale, oil, and natural gas reserves."
Two US senators introduced separate bills aimed at restricting federal regulation of hydraulic fracturing in onshore oil and gas activities. Both measures were referred to the Energy and Natural Resources Committee, where they may be combined before being considered.
Trump directed the State Department and other agencies to make a decision within 60 days of a final application. He also declared that a 2014 environmental study satisfies required reviews under environmental and endangered species laws.
WhiteHouse.gov site posts "An America First Energy Plan" on website shortly after President Trump's taking office (on inauguration day).
Energy costs are "affordable" up until a certain point. That tipping point, experts agree, is when costs exceed 6 percent of a household's income.
Nuclear power accounted for the third largest share of electricity generation in 2016, at 20 percent. Renewables, like wind and solar power, accounted for only 8 percent, although they were the fastest growing energy sources.
[A] sea-change is needed in the way Washington approaches American oil and natural gas abundance. It's critically important for consumers, the U.S. economy and our country's security.
U.S. regular retail gasoline prices averaged $2.14 per gallon (gal) in 2016, 29 cents/gal (12%) less than in 2015 and the lowest annual average price since 2004. Lower crude oil prices in 2015 were the main cause of lower gasoline prices.
According to the US Energy Information Administration's Annual Energy Outlook 2017, the US will become a net energy exporter in most cases as petroleum liquid imports fall and natural gas exports rise.
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