The Trump administration must invest in innovation to reassert energy dominance
Former Energy Secretary Rick Perry joins 'Fox News Live' to discuss President Donald Trump’s executive orders on boosting energy production.
The Trump administration will be freed from its predecessor’s fixation on climate change and obsession with the quixotic, painful and ultimately fruitless task of trying to swiftly end reliance on fossil fuels. President Trump plans to use America’s vast energy reserves to reassert the country’s dominance, and to massively expand baseload power to make electricity cheaper. The one ingredient his energy policy lacks is investment in innovation.
Asserting energy dominance will strengthen the security of the United States and its allies, especially given that energy exports are the main source of income for strategic rivals Russia and Iran. Russia remains the third-largest source of Europe’s gas imports, despite being locked in war over Ukraine. By increasing its own LNG exports, America can make money while supporting its allies with reliable and affordable energy.
The policy should not stop there. Poor countries are mired in energy poverty while middle-income countries are often reliant on outdated, inefficient and polluting energy technology. As Trump’s incoming Energy Secretary Chris Wright has said, "More energy, and better energy, is the path to bettering human lives." Development organizations like the World Bank and African Development Bank refuse to invest in oil and gas projects for destitute countries, despite the obvious need to end energy poverty and create jobs. The........
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