President Trump declares national energy emergency. Here’s how it could impact the sector.
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David Cherney speaks to NPR Marketplace about what a potential national energy emergency declaration would mean for energy markets.
He breaks down the three main objectives behind the declaration: fast-tracking fossil fuel production, relaxing environmental regulations, and addressing gas prices, acknowledging that the declaration is more about pushing energy policy changes rapidly.
David Cherney explains that President Trump’s national energy emergency declaration aims to streamline fossil fuel infrastructure, weaken environmental regulations, and address potential future gas price increases. While this approach targets traditional energy, it overlooks renewable sources like solar and wind.
An energy emergency declaration might be unprecedented, but the end goals are not. It’s designed to do three things, said partner David Cherney at PA Consulting Group: “One is streamline the permitting for traditional energy infrastructure, particularly fossil fuel production.”
Two is weakening some of the environmental regulations that hinder fossil fuel production. “And then three is finding measures to help provide some relief at the gas pump if gasoline prices increase over time,” Cherney said.
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