President Donald Trump discussed his declaration of a national energy emergency during the World Economic Forum in Davos, Switzerland, during the week of Jan. 19, saying the move would help “unlock the liquid gold under our feet” and “pave the way for rapid approvals of new energy infrastructure.” Increased oil production and the expedited permitting of new energy projects were also seen as potential benefits of the declaration by the head of a national industry trade group.
Tim Tarpley, president of the Energy Workforce & Technology Council, which represents over 650,000 American workers in the sector, echoed Trump’s sentiment. He emphasized that faster permitting to support a major buildout of U.S. power infrastructure is required as a result of rising U.S. energy demands, which he also foresees fossil fuels playing a major role in helping to meet.
Tarpley cited projections that electricity needs in the U.S. could jump 50% by 2050, driven largely by data centers powering artificial intelligence and cryptocurrency operations.
“It’s going to require a significant amount of permitting, and right now we’re not getting those permits fast enough, so it is scaring off investors,” Tarpley told Straight Arrow News. “But I just think natural gas can be a big part of the grid in the coming, you know, 20 or 30 years. So we should be really focused on that.”
According to Tarpley, the anticipated rise in power demand is expected to necessitate a corresponding 50% increase in American power infrastructure over the next 30 years. He expressed optimism about the energy sector’s future under Trump’s administration, contrasting it with what he described as regulatory challenges during the Biden administration.
“Our industry is looking very positive at this new administration and is looking forward to a fresh start. There were a lot of actions taken by the Biden administration that seemed to target oil and gas, and I would argue, unfairly, target oil and gas,” Tarpley said. “To take out that regulatory uncertainty that was there during the Biden administration, in addition to the expedition of permitting that was in the other executive order, we think both of those combined will be a positive thing for the energy industry in the U.S.”
With the administration signaling a more favorable stance on fossil fuels and promising a speedier approvals process for the construction of energy infrastructure, Tarpley voiced confidence in the sector’s growth.
“We think demand is, in the long term, going to increase. So we’re very bullish on the industry,” Tarpley said. “I’m personally very bullish on gas. I think we’re going to continue to see growth.”