(The Center Square) – President Donald Trump has promised to lower prices and open up domestic energy production, but his recent tariff threats have raised the question: can Trump really lower energy prices?
And if so, how will he do it?
Daniel Turner, executive director of the energy workers advocacy group, Power the Future, discussed the issue on America’s Talking.
Turner said the Mexican and Canadian tariff threats are simply bargaining tactics that will not lead to real increased prices in the U.S. So far, that has proven true as tariffs with both countries have been delayed and leaders in Canada and Mexico have promised to help Trump with the border problems.
…”under the previous administration, we had this pivot to buying oil and gas from Iran, Venezuela, Saudi Arabia,” Turner said. “We were buying metals and minerals from communist China, and we have all of those raw materials and all this energy here.
“So even though clearly I wouldn’t put Canada and Mexico in the category of Venezuela and Iran, they’re not, they’re allies and neighbors and friends, but they’re still not America,” he added. “And I’d much rather get natural gas from Pennsylvania, where bad energy policy has prevented us from exploring it thoroughly, than buy natural gas from the Saudis. And I think that’s what these tariffs are meant to do.”
Turner said it could take a year for the the energy prices to begin coming down and that regulatory environment, not just the recent years of higher production, are a major factor in prices.
Turner explained how the Biden administration policies kept energy prices up despite high oil production.
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