US President Donald Trump will call for boosting oil and natural gas exports. Trump will again tout coal, oil and gas industry during the White House’s “energy week”.
The US president will speak at the Department of Energy on Thursday about energy exports. According to sources, Trump will describe how exports of natural gas, oil and coal could help to reinforce the US international influence and its ties with allies as well as to stabilize global markets.
The focus on exports is one of Trump’s policy priorities, including narrowing the trade deficit, recovering heavy manufacturing and modernizing infrastructure, Benjamin Salisbury, a senior energy and natural resources analyst at FBR & Co., said.
In December 2015, former President Barack Obama signed a law lifting a 40-year crude export ban. Since then, the US has shipped more than 157 million barrels of crude oil to countries excluding Canada, which had been exempted from the export ban.
