Trump's Energy Policy: A Course Towards Cheap Oil and Cooperation with Saudi Arabia.
14.04.2025
2290
Journalist
Shostal Oleksandr
14.04.2025
2290
Under Donald Trump's presidency, energy prices in the USA are expected to be lower than in the previous administration. This was stated by Energy Secretary Chris Wright. He did not provide specific price targets but noted that lowering barriers for investment and construction could reduce energy costs.
In the past, the USA and Saudi Arabia have conflicted over energy policy. This occurred due to Saudi Arabia's refusal to increase production and lower energy prices. The price of oil between 2017 and 2021 averaged 83 dollars per barrel.According to the Secretary, the USA and Saudi Arabia foresee a rise in global energy demand and an increase in its supply. The countries are also working on an agreement for cooperation in nuclear energy production and share a common position regarding Saudi Arabia's partnership with China in developing a nuclear program.Recently, oil prices have been declining; however, this may negatively affect the financing of Saudi Arabia's expansive economic transformation plans. It is also worth noting that a previous agreement between the USA and Saudi Arabia was canceled due to attacks on Israel and Israel's response.
Read also
- Sudden cold and rains will hit Ukraine: forecaster Didenko warned of a sharp deterioration in weather
- Zelensky spoke about what Putin is striving for and how Russia lies to Trump
- The Ombudsperson explained in which case it is possible to take the NMPT-2025 in an additional session
- Ukraine is completing preparations for screening with the EU in the field of water legislation
- The energy system requires 2.2 GW of maneuverable generation - forecast
- In Ukraine, they want to build 400 elevators with a capacity of 5 million tons of grain
