President-elect Donald Trump famously wants to make America great again. But at least one of his policy ideas has the potential to give European industry a leg up too.
Trump has vowed to encourage upstream production — to a “drill, baby, drill” refrain. He is also expected to lift a Joe Biden-era moratorium on licensing new liquefied natural gas export facilities.
These measures would have an incremental, rather than revolutionary impact. US natural gas production has risen to record levels of about 125bn cubic feet a day, up nearly half over the past decade. While rolling back royalties, compliance and costs might give drillers an extra incentive, the uplift would be capped by the downward pressure on oil and gas prices.
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