The new council, led by North Dakota Gov. Doug Burgum, will have sweeping authority over federal energy agencies, promoting deregulation and innovation for oil and gas.
Trump’s energy dominance is labeled an opportunity for the oil industry, with expectations that it will be more favorable compared to Biden’s regulation-heavy approach.
U.S. oil production is already at record levels, and given market dynamics, private companies will ultimately decide on drilling without federal mandates.
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