Trump’s Policies Bring Not Just Energy Independence, But Energy Dominance

America is now the world’s number one producer of oil, the world’s number one producer of natural gas, and has the resources to be the world’s number one producer of coal, if President Obama had not gone to war against America’s own coal industry, and tried to drive it into bankruptcy.


As Trump advisor Steve Moore wrote in his latest book, “Fueling Freedom: Exposing the Mad War on Energy,” “America has more recoverable energy supplies than any nation—by far. We have more oil and natural gas than Saudi Arabia, Iran, Russia, China, and all of OPEC’s nations combined.”

America has enough coal, the original energy resource fueling the industrial revolution, which built the modern world and modern prosperity, to last another 500 years.

Trump’s energy deregulation, liberating America’s energy producers to maximize production, has created not only long sought American Energy Independence, but this unique American Energy Dominance, creating millions of American jobs, record low unemployment, and now rising wages for the first time in a decade.

Low energy costs are essential for energy intensive manufacturing, which is the lifeblood of blue collar jobs. That and Trump’s pro-growth tax reform are why manufacturing plants are suddenly now coming back to America. All of this has been the foundation of Trump’s economic boom.

Energy Dominance

Now this energy economic boom is coming to the Atlantic coast with the Atlantic Coast Pipeline. The Federal Energy Regulatory Commission (FERC), the U.S. Fish and Wildlife Service, and the National Park Service have now granted authorization for construction of the pipeline to resume, targeting completion by the end of next year.

The pipeline will bring natural gas from 36 Virginia producers to utilities in Virginia and North Carolina providing cleaner electricity for residential home heating and power for local businesses.

On October 19, the Virginia Department of Environmental Quality approved the pipeline’s erosion and sediment control plans and stormwater control plan. It’s the last state regulatory approval the pipeline needs to complete its construction.

The 600 mile pipeline is already providing thousands of jobs with good middle class wages and family health benefits for members of the Laborers’ International Union of North America (LIUNA) across West Virginia, Virginia, and North Carolina.

Local Workers, National Impact

Workers trained by Virginia Community Colleges are being dispatched from LIUNA Local Union 90 out of Roanoke, Virginia. Dennis Martire, Vice-President and Regional Manager of LIUNA Mid-Atlantic says workers are eager to work on the pipeline project “because they know this opportunity will lead them to a promising career in the construction industry.”

The pipeline’s natural gas will increase production of affordable, reliable, low cost energy while reducing carbon dioxide emissions. That will produce more jobs across mid-Atlantic states in businesses fueled by the natural gas, and in local companies that supply those businesses.

America’s new Energy Dominance also has important national defense and foreign policy implications. Energy production often comes from troublesome regimes from Russia to Saudi Arabia to Venezuela and others from the Middle East to Africa to South America.

They often use their energy to influence countries to cooperate with their anti-American foreign and defense policies, as President Trump highlighted concerning German contracts for Russian natural gas, which gives Russia power to threaten cut offs in a crisis.

Energy As Weapon

Reagan was alert to that danger during his time as president as well. But Trump’s American Energy Dominance policies give America powers to step up in a crisis, offering American energy supplies to displace Russian energy with abundant, low cost, American energy, just as Reagan’s pro-Energy policies served.

Some have objected that the costs of the Atlantic Coast Pipeline will be included in the rate base of the utilities it serves, which means those costs will eventually be recovered from consumer electricity ratepayers.

But because the rates utilities can charge are subject to government regulation, that is standard practice in calculating the rates that can be charged. Courts have held that for such utility rate regulation to be constitutional, the utilities have to be able to recover their costs in the rates they can charge.

  • Ferrara teaches economics at King’s College in New York, and serves as a senior fellow at the National Tax Limitation Foundation and at the FAIR Energy Foundation. He served in the White House Office of Policy Development under President Reagan, and as associate deputy attorney general of the United States under President George H.W. Bush.

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Originally posted 2019-09-19 23:27:04.


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