*Incoming US president Donald Trump, who begins his second term on 20 January, intends to usher in an era of US ‘energy dominance’. In reality, the US already enjoys a dominant position on the global energy landscape, and this dominance was already set to increase over the coming years whatever the administration. Whilst the planned relaxation of LNG terminal permitting rules and the scrapping of a ban of drilling on federal lands will no doubt spur some additional activity and exports, the overwhelming focus of US firms on boosting profitability will remain a limiting factor.
*US exports of oil and other liquids rose by more than 2mn b/d over the four years of the Biden presidency to a record 10.69mn b/d for 2024 (see chart 1). On a net basis, booming exports of NGLs in particular (MEES, 20 December 2024) mean that the US notched up record net oil exports of 2.25mn b/d for 2024. (CONTINUED - 358 WORDS)
