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Trump’s budget a mixed bag for energy sector

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From selling off oil in the strategic petroleum reserve to cutting funding for renewable energy research, the Trump administration on Tuesday proposed a new course for financing the nation’s energy sector as it seeks to balance the federal budget.

At the Department of Energy, where Secretary Rick Perry has promised an “all of the above” strategy to developing the nation’s energy supply, research funding would plunge by 18 percent overall. Neither nuclear nor fossil fuel research was spared in the Trump plan, but Office of Energy Efficiency and Renewable Energy took a disproportionate hit, with its $636 million proposed budget representing an 70 percent drop from 2016.

 “This budget delivers on the promise to reprioritize spending in order to carry out DOE’s core functions efficiently and effectively while also being fiscally responsible and respectful to the American taxpayer,” Energy Secretary Rick Perry said in a statement.

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Written by James Osborne for the House Chronicle

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