Trump's Energy Policy to Encourage Technological Innovation in Industry

Oil and gas industry analysts expect Trump’s election to open doors for more technological innovation as he campaigned to favor fewer restrictions on industry activity.

However, according to Scot Anderson, global co-head of the energy and natural resources group at law firm Hogan Lovells, both Clinton and Trump would have pushed toward technological innovation in their policy plans.

Clinton would have most likely encouraged the industry to increase its use of green completion technologies in anticipation to tighten regulations and promote renewable energy.

Trump has not been as open about his plans for energy but did mention unleashing oil and gas resource development; however, Anderson told Rigzone that current regulatory standards will most likely stay in place as they are difficult to reverse.

Jack Gerard, President and CEO of the American Petroleum Institute told Rigzone that no matter who was elected president, regulations are needed in order to influence investment in technology that will continue to help the industry thrive in a time when oil prices are low and companies are forced to do more with less.

Source:
RigZone