WASHINGTON – President Trump on Monday signed a series of orders on energy policy that he said would combat inflation after consumer prices soared 22% during former President Joe Biden's four years in office.
“The biggest thing and driver of inflation is energy. They ruined my energy policy,” the 78-year-old President Trump told reporters in the Oval Office for 47 minutes, hours after being sworn in at the Capitol. He told reporters at a press conference.
“We're going to make a lot of money from energy. We have more than anyone else.”
President Trump declared a national energy emergency, with the goal of releasing “a range of powers that will allow our country to quickly resume construction and produce more natural resources,” officials said. Ta.
Other Trump orders include Biden's restrictions on oil drilling in Alaska, including the current president's 2023 limits on Arctic drilling and this month's ban on drilling off the U.S. coast, including the Bering Sea. It removes restrictions.
The order would help “unlock Alaska's potential as the nation's energy reserve,” aides told Trump, who submitted the document for signature.
In his inaugural address around noon, President Trump vowed to usher in a “Golden Age of America” by putting the hammer down on the regulatory state and expanding energy production.
While energy policy was a major pillar of President Trump's economic policy, he also sought to combat inflation by directing agencies to pursue a whole-of-government approach aimed at tackling the cost of living crisis.
Under the order, he required the presidential assistant for economic policy to provide an update on its efforts every 30 days.
The executive order expressed interest in lowering prices for things like housing and food.
Trump's other orders include rescinding a policy that urged automakers to make 50% of their production electric vehicles by 2030, but Republicans have argued that it would increase costs and reduce consumer choice. is frequently claimed to be limited.
He also withdrew the United States from the 2015 Paris climate accord, accusing it of unfairly demanding that the United States cut its emissions more than China.
President Trump also directed government “bureaucrats” to stop enforcing additional regulations until his team completes takeover of the federal government.
While the Senate works to confirm the nomination of the 47th president, many Cabinet and other key administration roles are either vacant or filled by acting officials.
If his team is confirmed, President Trump is expected to take additional steps to rein in regulation.
In addition to attacking government regulations, President Trump wants to make government more efficient through the creation of the Department of Government Efficiency (DOGE), which he formally launched through executive action on Monday.
Despite its name, DOGE, which is not technically a government department, will be led by tech mogul Elon Musk, who claims the organization will help revitalize the economy by cracking down on government overreach. There is.
But his advisers said repealing Biden's old energy policies is paramount to boosting the economy.
“The president has been taking these steps as quickly as possible since day one so that we can get prices down as quickly as possible for the American people,” a White House official told reporters.
