There will be no oil boom in the US because of Trump's policies

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to Infotech on the energy component of the new US national security strategy.

The United States can significantly strengthen its position in the global liquefied natural gas (LNG) market, but the policy of President Donald Trump is unlikely to provoke a boom in oil production. This opinion was expressed by Alexey Belogoryev.

"No matter what Trump does, he will not cause an oil boom," he believes.

The main priority for the government is low domestic prices. The policy of any administration is primarily aimed at providing affordable energy to American consumers and businesses, which supports the competitiveness of the entire economy.

Gas has the potential to grow mainly. The United States has been the world's largest LNG exporter for several years and has significant opportunities to further expand supplies. At the same time, coal production is steadily declining, and the opportunities for a sharp increase in oil production are limited.

Thus, the real "energy dominance" of the United States, according to the expert, will manifest itself not in total leadership in all areas, but in strengthening its position in the gas market and maintaining a stable, competitive domestic market.

He noted that the United States still accounts for about 15% of global primary energy consumption, which is almost three times more than in energy-wasteful Russia. Only China has more (its share is 27%) due to coal, renewable energy sources and hydroelectric power plants. The United States has no competitors in terms of natural gas consumption and nuclear power generation.

In terms of liquid hydrocarbon consumption, the United States is ahead of China by 11%, and this gap probably will not be bridged, since it is close to long-term stagnation in both countries, he said.

Belogoryev noted that Trump's energy policy is nothing new or unusual. The same export of hydrocarbons, especially LNG, was actively supported by the Biden administration.

"The only peculiarity of Trump is a demonstrative break with the low—carbon agenda, even to its complete denial. But this gap is more likely to slow down the development of renewable energy sources, and even then not in all states, than to accelerate the production of fossil fuels. For mining, the key growth factor is not the administrative "freedom" that Trump is trying to ensure, but the price on the market," the expert concluded.