(The Center Square) – Investors with deep pockets steering clear of the nation’s regulatory roadblocks may soon find a steep off-ramp.
That’s if President-elect Donald Trump gets his way. The soon-to-be commander-in-chief said on TruthSocial on Tuesday that he’d fast-track permits, including environmental applications, for those willing to invest at least $1 billion in the United States.
The announcement points to the incoming administration’s promise to boost domestic natural gas and oil production, both of which have been hampered by efforts to incentivize renewable energy investment, instead.
Earlier that same day, the Energy Information Administration said it anticipated higher natural gas prices – to the tune of 40% – this winter, even with “robust inventories.”
“Recent natural gas prices have been historically low, so a colder winter than last will draw on storage and raise prices to some extent,” said EIA Administrator Joe DeCarolis. “We expect natural gas prices will remain well below the high prices we saw in 2021 and 2022.”
According to the administration, five states accounted for roughly 73% of domestically-produced and marketed natural gas last year: Texas (23%), Pennsylvania (18%), Louisiana (10%), West Virginia (8%) and New Mexico (8%).