This week, the Trump administration is hosting “Energy Week” to discuss with state, tribal, business and labor leaders how we can pave the path forward toward U.S. energy dominance.
This is a truly amazing moment in the energy sector, and President Trump is seeking to capitalize on the opportunity for the betterment of the American economy and our citizens. For the first time in four decades, the energy story in the United States is about becoming an energy exporter and no longer about peak resources or being beholden to foreign powers.
Mr. Trump wants America to utilize our abundant domestic energy resources and technological innovations for good, both at home and abroad. An energy-dominant America means a self-reliant and secure nation, free from the geopolitical turmoil of other nations that seek to use energy as an economic weapon.
An energy-dominant America will export to markets around the world, increasing our global leadership and influence. Becoming energy dominant means that we are getting government out of the way so that we can share our energy wealth with developing nations. For years, Washington stood in the way of our energy dominance. That changes now.
The United States has been a net energy importer since 1953, but thanks to innovation and technological advancement, we are on the brink of changing this. For example, by 2018 the United States is expected to be a net exporter of Liquefied Natural Gas (LNG). American companies can, and already have, exported U.S. LNG to our international trading partners in Europe and Asia. This includes China, where bilateral energy trade was an important element of President Trump and President Xi Jinping’s 100-Day Action Plan. We hope to build on that dialogue with other allies around the world who are seeking to buy American LNG.
The United States is blessed with an abundance of natural resources, and energy technology and services. We are a world leader in nuclear and renewable technology. We can use this to our economic advantage for the betterment of American families, workers and manufacturers. Tapping into our full energy potential in this country will lead to robust job growth and expansion in every sector of our economy. From retail to manufacturing, we can bring jobs back to America, while continuing to improve our environment with cleaner fuels and technologies.