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Trump’s Policies Are Creating Uncertainty for Fossil Fuel Companies
The Trump administration aims to make fossil fuels cheap—so cheap they wouldn’t be worth extracting. “‘Drill, baby, drill’ is nothing short of a myth,” one oil executive has said.
Last week, the US Department of the Interior announced that it would speed up the approval process for certain fossil fuel projects, proclaiming that environmental analyses that previously would have taken years must now be taken down to, at maximum, a month. “If I were a developer of any of these projects, I would look at this order and smack my forehead,” says Sam Sankar, a senior vice president at Earthjustice, the United States’ biggest environmental nonprofit law organization. Each quarter, the Federal Reserve Bank of Dallas publishes a regional report on the state of the oil and gas industry in Texas, Louisiana, and New Mexico, which includes anonymous survey responses from executives.
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