Economist predicts Trump’s executive orders will lower US energy prices

Jan 27

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Jack Aylmer Energy Correspondent

By Jack Aylmer (Energy Correspondent), Joey Nunez (Video Editor)

During his first week in office, President Donald Trump issued several executive orders reshaping U.S. energy policy, reversing measures from the previous administration. Key actions included halting permits for new onshore and offshore wind developments, resuming oil drilling leases in the Arctic and large areas of the U.S. coastline, and declaring a national energy emergency, granting the president special executive powers to influence the energy sector.

Aaron Cirksena, founder and CEO of financial consulting firm MDRN Capital, provided insight into how these changes might affect consumers. Speaking with Straight Arrow News, Cirksena suggested the rollback of renewable energy policies and emphasis on domestic oil and gas production could lead to lower energy costs for Americans.

“In all likelihood, with Trump’s mandates coming in, hopefully, energy prices are going to be reduced,” Cirksena said. “We should see a gradual decrease in things like prices at the pump. The more reliant that we can be on our own energy sources it’s just going to long-term cause our prices to go down because we become far less reliant on foreign oil.”

The administration’s shift toward prioritizing fossil fuels, Cirksena forecasted, could result in lower power bills than those associated with renewable energy. He emphasized that Trump’s actions do not constitute a subsidy for oil and gas companies, but rather amount to a lifting of restrictions on the industry to encourage domestic production.

“This is hopefully going to lower the overall energy prices that we pay in the country,” Cirksena said. “It’s going to produce lower overall prices, comparative to what renewable energy sources like wind energy, are going to be able to provide.”

Despite the focus on fossil fuels, Cirksena said he does not see this policy shift as an end for the renewable energy sector. Instead, he said he believed it will provide clean energy developers with more time to improve the intermittent nature of most green technology without relying on federal funding, prior to its eventual more widespread implementation in the future.

“It’s going to give the renewable energy sector more time to get more private investment to improve their technologies,” Cirksena said. “Eventually, over a period of decades, we are going to have to transition more to sustainable renewable energy sources. It’s just right now that isn’t the case.”

Tags: Donald Trump, Energy, Executive Order, Gas prices, Natural gas

DURING PRESIDENT DONALD TRUMP’S FIRST WEEK IN OFFICE, HIS ADMINISTRATION INSTITUTED A NUMBER OF EXECUTIVE ORDERS AIMED AT FURTHERING THEIR VISION FOR THE U.S. ENERGY INDUSTRY-

ROLLING BACK SEVERAL BIDEN-ERA ENERGY POLICIES IN THE PROCESS.

THIS INCLUDED A HALT ON PERMITTING FOR ONSHORE AND OFFSHORE WIND DEVELOPMENTS-

A RESUMPTION OF OIL DRILLING LEASES IN THE ARCTIC AND ALONG THE U.S. COAST-

AND THE DECLARATION OF A NATIONAL ENERGY EMERGENCY WHICH WILL GIVE TRUMP SPECIAL EXECUTIVE POWERS TO FURTHER INFLUENCE THE SECTOR.

SO WHAT DOES ALL THIS MEAN FOR CONSUMERS?

“In all likelihood, with Trump’s mandates coming in, hopefully energy prices are going to be reduced. The government was essentially paying in the renewable energy space.”

AARON CIRKSENA IS THE FOUNDER AND CEO OF FINANCIAL CONSULTING FIRM MDRN CAPITAL.

HE SPOKE WITH STRAIGHT ARROW NEWS ABOUT HOW TRUMP’S RECENT ORDERS RELATED TO ENERGY ARE EXPECTED TO IMPACT EVERY DAY AMERICANS.

“We should see a gradual decrease in things like prices at the pump. The more reliant that we can be on our own energy sources and our own ability to have our own oil and gas production here, it’s just going to long term cause our prices to go down because we become far less reliant on foreign oil.”

WITH TRUMP SET TO PUT A SIGNIFICANTLY GREATER IMPORTANCE ON FOSSIL FUELS IN U.S. ENERGY THAN THE PREVIOUS ADMINISTRATION-

CIRKSENA FORECASTS THIS WILL MEAN LOWER POWER BILLS FOR AMERICANS THAN WHAT RENEWABLES CAN CURRENTLY OFFER.

“It’s going to produce lower overall prices, comparative to what renewable energy sources like wind energy, are going to be able to provide. People might have this misconception that he’s subsidizing the oil and gas or the drilling industry, but that’s not the case. He’s simply lifting restrictions on those industries. That’s hopefully going to lower the overall energy prices that we pay in the country.”

ACCORDING TO CIRKSENA THIS POLICY SHIFT WON’T SPELL THE END FOR THE AMERICAN RENEWABLE ENERGY SECTOR-

BUT RATHER GIVE CLEAN POWER DEVELOPERS MORE TIME TO REFINE THE INTERMITTENT NATURE OF THEIR TECH PRIOR TO ITS EVENTUAL MORE WIDESPREAD IMPLEMENTATION.

WITHOUT SO MANY FEDERAL DOLLARS FOOTING THE BILL TO DO THAT MORE IMMEDIATELY AS HAD BEEN HAPPENING UNDER BIDEN.

“It’s going to give the renewable energy sector more time to get more private investment, rather than getting more investment from the government to improve their technologies. Because eventually, right over a period of decades, we are going to have to transition more to sustainable renewable energy sources. It’s just right now that isn’t the case.”

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