Saturday, July 15, 2017

The war on business is over

“[In the Warsaw speech] President Donald Trump has quickly made it clear that Barack Obama’s war on business is over. He’s also made it clear, through regulatory rollbacks of breathtaking scope, that the Obama war on fossil fuels is over. Trump wants America to achieve energy dominance. He withdrew from the costly Paris climate accord, which would have severely damaged the American economy. He directed the EPA to rescind the Obama Clean Power Plan, which would have led to skyrocketing electricity rates. He fast-tracked the Keystone XL pipeline. He reopened the door for a modernized American coal industry. He’s overturning all the Obama obstacles to hydraulic fracturing, which his presidential opponent Hillary Clinton would have dramatically increased. And he has opened the floodgates wide to energy exports.Right now, U.S. oil reserves are almost in parity with those of Saudi Arabia. We have the second-most coal reserves in the world. There are enough U.S. gas reserves to last us a century. We have already passed Russia as the world’s top natural-gas producer. We are the world’s top producer of oil and petroleum hydrocarbons. And exports of liquified national gas are surging, with the Energy Department rapidly approving new LNG projects and other export terminals. All these America-first energy policies are huge economic-growth and high-wage-job producers at home. But in the Warsaw speech, Trump made it clear that America’s energy dominance will be used to help our friends across Europe. No longer will our allies have to rely on Russian Gazprom supplies with inflated, prosperity-killing prices.” Larry Kudlow, “Trump has Putin over a barrel,”

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