Could Trump make US energy independent?
Baku, Azerbaijan, Nov.15
By Leman Zeynalova – Trend:
The biggest factor holding Washington back from boosting oil output is price, Jim Krane, Middle East energy analyst, Rice University's Baker Institute, Houston, told Trend Nov.15.
He was commenting on the possibility of increasing the US oil production under the presidency of Donald Trump.
“Every US president since Jimmy Carter has declared his intention to make the US ‘independent’ of imported oil and none has succeeded,” said Krane.
He pointed out that US oil producers simply need higher oil market prices - or else significantly reduced costs - before they can invest in higher production.
Regarding the future of US relations with Middle East’s oil producing countries under Trump administration, Krane said that Trump’s campaign statements suggest that he may take a more transactional approach to foreign policy.
It is hard to predict how he will approach its allies in the Middle East, the analyst added.
Trump’s energy policy includes the following goals: declare the country’s energy dominance a strategic economic and foreign policy goal; become, and stay, totally independent of any need to import energy; encourage the use of natural gas and other US energy resources that will both reduce emissions and the price of energy and increase its economic output.