Washington should look at 'market-driven solutions' that support nation's interests
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Energy policy is not just a matter of governing approach, it is fundamental to our national security posture and economic resilience. The United States stands at a crossroads, and it is imperative we adopt an energy strategy that prioritizes our national interests, promotes clean air and water and economic growth, and ensures America’s global leadership. As the former National Security Advisor to President Trump, I have seen firsthand the critical importance of energy policy in safeguarding our national security and economic prosperity. President Trump stands poised to reshape the nation’s energy posture through an “all-of-the-above” energy policy that is right for America.
We cannot ignore the central role that domestic oil and gas production plays in our nation’s economy and that it will continue to do so long into the future. Thus, we must facilitate further growth of this vital industry by confronting the impact of regulations that stymie growth. In a world where Europe and Asia are striving to stabilize their energy supplies amidst growing demands, the United States’ decision to pause new Liquid Natural Gas (LNG) export approvals has serious implications for global stability. American energy dominance over our adversaries necessitates an approach that spans all sectors. This policy must include dramatic increases in drilling for oil and gas, the restoration of the Strategic Petroleum Reserve (SPR), which was needlessly drained for political reason, the revitalization of our nuclear power industry, particularly through encouraging the building of Small Modular Reactors (SMRs), and a reclaiming of American leadership in the clean energy sector. Such a strong all-of-the-above energy strategy ensures a diversified and secure energy supply and will foster peace and prosperity for America and our allies.
Domestic Production and Regulation
Global energy demand is poised to grow significantly as AI growth, crypto mining, and emerging markets lead to demand for more energy. Despite recent increases in domestic oil production—gains which have occurred in spite of the Biden administration’s policies, not because of them—the United States must continue to increase petroleum production. Under the current administration, we have seen a slew of regulations and prohibitions on drilling on federal lands and offshore. These constraints have stifled what could be a significantly higher American production rate. Without these suffocating regulations, the United States could be producing millions of barrels more per day, reinforcing our energy security and reducing dependency on foreign oil. Energy independence is not just an economic issue, it is a national security imperative given our geopolitical struggles with global production giants – Russia and Iran – and the world’s largest consumer and polluter – China.
Rebranding as an Energy Exporter
The current pause on new LNG export approvals is both an environmental and geopolitical disaster. LNG is a cleaner alternative to coal and oil, and its export can help reduce global carbon emissions while providing a strategic advantage to the United States in global energy markets. Cleaner air and water in the world is dependent on US LNG leadership. Restarting and expanding LNG exports should be a priority for any administration that truly values both the environment and our geopolitical standing. By resuming LNG exports, we can provide our allies with a reliable and clean energy source, reduce their dependence on hostile nations, and strengthen our own economic position. Furthermore, expanding LNG exports will create jobs across the energy and transportation sectors while boosting our GDP, enabling the U.S. to reduce its debt and enhance its economic resilience. Failure to support the growth of the LNG market will be a gold-plated gift to Vladimir Putin’s Russia.
Keystone XL Pipeline
One of the first actions of a future Trump administration should be the approval of the Keystone XL pipeline, with the goal of completing it by December 2025. This pipeline is crucial for transporting Canadian crude oil to U.S. refineries cleanly, efficiently and safely, enhancing North American energy integration and security. The alternative will be the shipment of Canadian oil from North America across Canada and the Pacific Ocean to be refined in China by the world’s biggest polluter. The Keystone XL pipeline not only represents a significant infrastructure investment but also a step toward energy independence and renewed strength in North American security. Its completion should be a day-one priority and accomplished by the end of the first year of the administration. President Trump demonstrated his ability to lead innovative and complex projects in his first term. A future Trump administration will deliver success for America thru completing the Keystone XL pipeline.
Strategic Petroleum Reserve
The SPR is a critical component of our national security infrastructure. It serves as a buffer against global supply disruptions and ensures that we have access to energy in times of crisis. The Biden administration’s decision to raid the SPR was a shortsighted and politically motivated move to lower gas prices for a news cycle or two, jeopardizing our national security. We must stop raiding the SPR and focus on replenishing it to optimal levels. By maintaining a robust reserve, we can safeguard our energy security and protect our economy from volatile global markets.
Low Carbon Economy and the Role of Nuclear Power
In 2023, low carbon energy sources supplied 40% of global electricity supply, 30% of which came from renewable energy and 10% of which came from nuclear energy. The growth in renewables over the last decade has been spectacular and has been accompanied by significant reductions in cost. Market forces will continue to propel the growth of renewables for decades to come. The share of global electricity supply coming from nuclear energy, on the other hand, has been stagnant, despite the advances in nuclear technology, particularly with SMRs. Fueled by advances in Artificial Intelligence (AI), quantum computing, and coupled with additional demand from crypto mining, global energy demand is expected to skyrocket through 2050. If the U.S. and the rest of the world are serious about emissions reduction, increasing investment in SMRs is an essential part of a low carbon power generation portfolio. SMRs provide a reliable, low-carbon energy source that can support the increased baseload needs from data centers and other technology-driven sectors. By embracing nuclear power as an integral part of the low carbon economy, we can ensure a stable and sustainable energy supply with incredible flexibility in meeting tomorrow’s energy needs.
All-of-the-Above Approach to Energy Dominance
Embracing an all-of-the-above energy strategy means that the U.S. is true to its core value of promoting competition in markets, and benefits consumers as well as efficient producers. Our fossil fuel industry is the envy of the world and has produced incredible advances in fracking technology. The U.S. also happens to lead the world in reducing the CO2 emissions intensity of its oil and gas sector. The U.S. can and must continue to invest in expanding our global leadership in oil and gas production, which remains a cornerstone of our energy supply, and expand domestic production of clean energy and low-carbon emission solutions, such as wind, solar, hydropower, hydrogen and nuclear—all produced in the United States with equipment manufactured in the United States.
The world needs more energy and fossil fuels will remain the largest contributor to the global energy supply for the foreseeable future. Interestingly, that future holds the exciting possibility that carbon capture and methane abatement technology may effectively erase the dividing line between low-carbon and fossil fuel energy sources as continued technology advances decrease cost and improve efficiency and reliability.
There is no economically rational way to eliminate fossil fuels from our global energy supply. However, as the energy industry continues its inexorable shift in favor of low-carbon energy, the U.S. would be wise to diversify its own energy portfolio.
By diversifying our energy portfolio, we can ensure a stable and affordable energy supply for all Americans. This approach also aligns with our national security interests by reducing our dependence on foreign energy sources and enhancing our energy resilience. The United States has the potential to be as dominant a force in low carbon energy as we are in fossil fuel energy production.
A look back at the history of U.S. involvement in the clean energy sector makes it clear that we took our eye off the ball to our national detriment. The United States is the birthplace of both the solar and wind industries, dating back to the 1950s and 1980s, respectively. The U.S. was also once the dominant player in the extraction of rare earth minerals. However, over the past decade, we have all but ceded dominance of this multi trillion-dollar industry to China for a variety of reasons, including IP theft and unfair trade practices. China’s use of slave labor and currency manipulation has made matters even worse.
As of 2011, the U.S. still maintained a lead over China in installed solar and wind energy, but by 2023, China had installed over three times the capacity as the U.S. Almost none of that installed capacity in China had U.S. made components whereas China had sizable chunks of our domestic market. The U.S. must recognize both the threat and the opportunity created by the emergence of China as the dominant clean energy manufacturer and rare earth mineral producer.
Addressing China’s Role in Global Emissions
China is the root of global CO2 emission problems. While the United States has been a leader in reducing carbon emissions, China continues to be the world’s largest polluter. The United States should not pursue unachievable climate initiatives that harm our national and economic security. Instead, we should focus on pragmatic solutions that enhance our energy security and maintain our leadership in emission reductions. By holding China accountable for its emissions and promoting American innovation, we can lead the world in sustainable energy practices.
The United States has abundant mineral resources critical to the low-carbon economy. Chinese dominance of both manufacturing and mineral extraction and processing for the low-carbon economy is a geopolitical concern that is rapidly becoming a geopolitical threat to the future. By unleashing American innovation and production of clean technologies, we can export these products around the world, both reducing emissions globally and reducing China’s stranglehold on clean energy supply chains. President Trump’s record proves he is the right person at the right time to address the threat posed by the Chinese Communist Party and Chairman Xi.
Conclusion
Republicans can adopt a winning energy policy and political strategy by emphasizing market-driven solutions that support our national interests over government mandates. The United States has been blessed from on high with abundant energy resources in both fossil fuels and renewables, and a diverse energy policy will lower domestic energy costs while strengthening our position as a net energy exporter. By focusing on energy security and pragmatic environmental stewardship, we can ensure a prosperous and secure future for America and our friends.
Market realities must drive Republicans back to a renewed sense of enthusiasm for an “all-of-the-above” energy policy that recognizes the importance of the low-carbon sector to our economy without forsaking oil and gas resources, as the Biden administration has. This approach will allow the United States to dominate the world’s energy markets once again. This strategy will lead to cleaner air and water for our people, while at the same time delivering economic prosperity and national security to our country. Ours is a commonsense approach to integrating our national security, energy security, economic and environmental interests, and is certain to appeal to voters across the political spectrum. It is a winning message for the GOP to take into November.
Robert O’Brien served as the 27th U.S. National Security Advisor from 2019-2021.
Neil Auerbach is the founder and CEO of Hudson Sustainable Group, an investor in sustainable energy, and a former partner of Goldman Sachs. Neil is a senior advisor for the American Conservation Coalition.
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