Oil Industry Hopes for More as Trump Reverses Obama Policies
“My God, this is going to be refreshing,” Kelcy Warren, the Texas billionaire behind the controversial Dakota Access pipeline, said days after Donald Trump swept to victory.
As the industry digests the newly elected president’s push to get two stalled pipeline projects moving again — with some caveats — oil and natural gas producers are preparing for even more quick policy turns from the administration. High on the wish list is expanded access to drilling on federal lands and offshore areas.
With the stroke of a pen, Trump breathed new life into the Dakota Access and Keystone XL projects, and, in the process, the nation’s energy pipeline complex. The latest step to dismantle policies of the Obama administration, the move underscores how energy, perhaps more than any other American industry, is poised to benefit under the new president.
Written by Meenal Vamburkar at Bloomberg.com