Trump's Energy Policy: A Course Towards Cheap Oil and Cooperation with Saudi Arabia.
yesterday, 10:30
465
Journalist
Shostal Oleksandr
yesterday, 10:30
465
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
- The Tax Office will begin 'hunting' online sellers: who and for what will have to pay
- The White House reminded what Trump expects from Putin
- Ukrainians have sharply lost interest in the dollar: what is really happening with the currency market
- In Bulgaria, they explained why they changed their minds about selling reactors to Ukraine for the Khmelnitsky Nuclear Power Plant
- Euro strengthens: what the record rate means for Ukrainians and savings in dollars
- The Arsenal of Autocracy: Report Shows How North Korea Provides the RF Military Advantage in Ukraine
