WASHINGTON (Reuters) -President-elect Donald Trump said on Friday that he was creating a National Energy Council to coordinate policies to boost U.S. energy production that will be led by his pick for interior secretary, North Dakota Governor Doug Burgum.

The National Energy Council will represent federal departments and agencies involved in permitting and regulating all forms of energy, the statement said.

“This Council will oversee the path to U.S. ENERGY DOMINANCE by cutting red tape, enhancing private sector investments across all sectors of the Economy, and by focusing on INNOVATION over longstanding, but totally unnecessary, regulation,” Trump said in a statement.

The news came a day after Trump said Burgum, a wealthy former software executive, would lead the Interior Department. A cabinet post, the interior secretary oversees policies guiding the use of 500 million acres (202 million hectares) of federal and tribal land — including energy and mineral development.

As chair of the National Energy Council, Burgum will also have a seat on the National Security Council.

Burgum’s state of North Dakota ranks third in the nation in production, behind Texas and New Mexico. It relies heavily on both coal and wind for electricity production.

“Gov. Burgum implemented an energy dominance agenda in North Dakota and is the perfect choice to advance forward President-elect Trump’s agenda on public lands and the nation overall,” Kathleen Sgamma, president of the oil industry trade group Western Energy Alliance, said in an email.

“The simultaneous role as chairman of the National Energy Council is really encouraging, as it shows a focus on what’s the real obstacle—excessive red tape and overregulation.”

Trump said his government would seek to expand energy production, including baseload power to support power demand tied to the development of artificial intelligence, while reducing electricity bills for consumers.

© Reuters. FILE PHOTO: North Dakota Governor Doug Burgum speaks with the media ahead of the America First Policy Institute (AFPI) gala at Mar-A-Lago in Palm Beach, Florida, U.S., November 14, 2024. REUTERS/Carlos Barria/File Photo

He also said his policies would reduce the national deficit and create jobs while preserving landscapes.

“Doug Burgum will protect our Nation’s Natural Resources, restore our fabulous Oil and Gas advantage, and Make America, and its Energy, Dominant and Great Again!” Trump said.




Source link

Best Brokers

Unmatched trading fees, generous bonuses, top notch Regulation Frame.

T&Cs Apply

Risk disclosure: All investments involve a degree of risk of some kind. Trading financial derivative products comes with a high risk of losing money rapidly due to leverage.

Top-Tier Regulations. Unmatched Spreads and Commissions. Trading View is available.

T&Cs Apply

Financial Spread Trades and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.7% of retail investor accounts lose money when trading CFDs with this provider.

Modern and Intuitive Interfaces, Solid Regulatory Frame, and excellent Trading Fees.

T&Cs Apply
Risk warning: Trading derivatives is highly speculative, carries an inherent risk of loss and is not suitable for all investors. Before trading, you are strongly advised to read and ensure that you understand the relevant risk disclosures and warnings.

Highly Regulated. Low Spreads and Commissions. Vast Account Options.

T&Cs Apply

Risk Warning: Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment.