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Joint OPEC+ Committee Recommends Cuts

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Trump’s ‘Energy Week’ To Push U.S. Global Energy Leadership Agenda

Trump

This week is the Trump Administration’s ‘energy week’ in which the President and energy agencies and officials will be presenting plans how to create more energy jobs at home and boost the U.S. influence on the global energy markets.

President Trump is committed to utilizing our abundant domestic energy resources both to create jobs here at home and to strengthen America’s global influence and leadership abroad,” the White House Press Secretary Sean Spicer said at a press briefing on Monday.

“And later this week we’ll have an important announcement on the President’s agenda in terms of how it will help establish American energy dominance,” Spicer noted.

Earlier this month, the EIA said that the U.S. stayed on top as the world’s largest producer of petroleum and natural gas hydrocarbons in 2016 for the fifth straight year, ahead of Russia and Saudi Arabia. “The United States has been the world’s top producer of natural gas since 2009, when U.S. natural gas production surpassed that of Russia, and it has been the world’s top producer of petroleum hydrocarbons since 2013, when its production exceeded Saudi Arabia’s,” the EIA said.

The Trump Administration’s ‘energy week’ started with energy talks, among others, with India’s Prime Minister Modi. At the end of the meeting, U.S. President Trump said:

We’re also looking forward to exporting more American energy to India as your economy grows, including major long-term contracts to purchase American natural gas, which are right now being negotiated, and we will sign them.”

Related: Crisis-Stricken Venezuela Looks To Import Fuel

At the EIA conference in Washington on June 26-27, the energy administration said that “since the start up of the Sabine Pass facility, more than 140 cargoes have been loaded and delivered to 23 countries.”

The energy agenda of the current administration also includes efforts to revive coal. The coal mining in the United States, India, and China – the world’s three biggest coal consumers – has increased in 2017, reversing a downward trend in the use of carbon-heavy fossil fuel in recent years. The most dramatic change came in the United States, which saw a 19 percent rise in mining over the first five months of 2017, figures from the U.S. Department of Energy show.

By Tsvetana Paraskova for Oilprice.com

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