for Donald Trump
Iran and the status of international sanctions on the country’s oil exports are one of the clearest indicators of the intrinsic links between U.S. oil dependence and foreign policy.
The goal of the United States is to gradually restrict Iranian crude exports over time. The toughest sanctions on Iran’s oil trade, energy sector, and Central Bank will be re-imposed on November 5.
Retail gasoline prices are forecast this year to reach their highest summer average since 2014, potentially wiping out household gains from last year’s tax cut.
President Trump’s tweet Friday morning shifted the debate about rising gasoline prices, the effects on American consumers, and OPEC’s role in the global oil markets.
The lifting of sanctions in 2016 kicked off a nasty political debate inside the country about revised contract terms and who exactly should benefit from Iran’s oil sector revival.
It’s clear that nothing is off-limits now and Tidal Wave II has gone into overdrive under President Trump.
While there is no doubt that the U.S. has become an energy superpower, the main priority of the country should be strengthening overall energy security. One metric is the level of fuel choice in the transportation sector, which gives options to consumers and businesses so that they are not dependent on only petroleum.
The Mid-term Evaluation for fuel economy standards opens the door to including new vehicle technology, such as autonomy, in federal regulations, a development that could lead to even greater efficiency in the longer term.
The oil industry opposed the disclosure requirements, arguing that the rules are onerous and costly while putting American companies at a disadvantage in the international market.
With an eye on his legacy, President Obama is trying to ink a few energy and environmental victories before he leaves the White House. The Dakota Access pipeline, the BLM's fracking rule, and monument designations are key areas of focus for the outgoing administration.