While the industry is seeing much innovation, and while energy companies are doing positive work in communities and around the world, there is no question that the industry still faces several serious challenges. The industry needs fewer counterproductive industry regulations and, instead, better policies that leverage free trade and support innovation. Free trade can lead to more investment, job creation, and increased energy production. It would ensure a reliable supply of energy, as well as affordable energy, for years to come.
Government regulations continue to hamper progress in the industry. While both industry and government-sponsored research have found that certain infrastructure projects pose no risk to people or the environment, political battles continue to slow success. The delays and constant hurdles are costing energy companies large sums of money and jeopardizing the national and economic interest. In fact, according to a report published by the Congressional Research Services, in 2015 the federal government finalized 3,410 new rules and proposed an additional 2,342 ones.
However, since he took office, President Trump has “committed to eliminating harmful and unnecessary policies.” In his speech at the Unleashing American Energy Event, he said he has “been moving at record pace to cancel these regulations and to eliminate the barriers to domestic energy production.”
With the America First Energy Plan, the energy industry has the potential to flourish for years to come. According to the plan, “The Trump Administration will embrace the shale oil and gas revolution to bring jobs and prosperity to millions of Americans. We must take advantage of the estimated $50 trillion in untapped shale, oil, and natural gas reserves, especially those on federal lands that the American people own. We will use the revenues from energy production to rebuild our roads, schools, bridges and public infrastructure. Less-expensive energy will be a big boost to American agriculture, as well. The Trump Administration is also committed to clean coal technology, and to reviving America’s coal industry, which has been hurting for too long.”
Using the insights we’ve gleaned from conversations with clients and perspectives from industry executives, we have prepared a guide that describes the current state of the energy industry. Use it as a barometer to measure the impact of your own activities and initiatives. How do you compare to your peers? Are you doing the right things? Should you adjust your strategy to remain or become an industry leader?
You can download the guide here or fill out the form below.