The return of Donald Trump to the Presidency could have changes in the energy sector and it’s predicted he could make an oil disaster. Various analysts think Trump’s return could mean fewer solar panels but more gas and oil plants. This is expected to be the case in a state like Nevada, where the majority of the land is owned by the government.
Will Trump’s second term mean more oil and gas plants
Business Report says President-elect Donald Trump’s return to the White House could result in an increase in oil and gas-producing plants. This is highly possible in a state like Nevada Current where more than two-thirds of public land is in the hands of the federal government. This gives the U.S. Department of the Interior, the state-owned agency overseeing the nation’s natural and cultural resources, an outsized influence in the state.
Dave Mount, the president of OneSource Professional Research, which is a Mandeville-based recruiting firm with a focus on the energy and finance sectors, says that Trump’s emphasis on deregulation and increasing domestic energy production could create opportunities for companies and workers alike.
This comes as regulatory hurdles introduced under the Joe Biden administration – Gulf of Mexico lease sale delays and stricter EPA policies included – are likely to be scaled back under the Trump administration.
According to Mount, he describes Deepwater offshore drilling as one of the cleanest forms of hydrocarbon production, it could see a particularly robust recovery in the Gulf of Mexico in the next few years to come.
While increased production could boost the job market on a short-term basis, Mount is vigilant to note that increased production would reduce oil prices, which could suppress hiring in the long term.
“For the past four years, it’s been more difficult for oil and gas companies to get wells permitted and drilled, particularly on federal lands,” Mount said. “As more supply becomes available, prices drop. The lower the prices, the less money companies have to pay their people.”
The researcher argues that in the United States, oil and gas hiring has in recent years reflected the sector’s characteristic volatility and in the wake of the pandemic-induced downturn in 2020, OneSource saw hiring rebound in a big way in 2022 as energy demand spiked and oil prices surged.
However, the firm saw hiring flatten in 2023 and 2024 as prices stabilized and uncertainty over future regulatory conditions grew.
Will Trump push for more oil and gas drilling
Missoula Current published that with Trump having announced that North Dakota Governor. Doug Burgum will fill the role of the Department of the Interior, he is expected to fulfil the president elect’s campaign promise to “drill, baby, drill,” and increase oil, gas and coal production on public lands.
As governor of a state where less than 4% of its more than 44 million acres of land are federally owned, Burgum’s approach to managing public lands is not entirely clear.
However, his history as governor of North Dakota does offer some clues to his possible approach to Nevada’s public lands.
Trump’s new Interior Secretary to opt for gas and oil
While the hiring numbers in gas and oil are expected to surge, conservation groups in Nevada anticipate green energy will not be consiidered with Burgum at the helm of the Interior.
Burgum’s new portfolio as Department of the Interior secretary is set to receive criticism from nature conservation advocacy groups.
This is more possible as the agency is expected to pivot away from investing in Nevada’s booming renewable energy industry and towards “outdated, expensive, polluting technology like gas power plants.”
On top of that, this is more likely considering the fact that during Trump’s first term, he proposed auctioning off more than 500,000 acres of land in Nevada for oil and gas drilling leases, including about 54,000 acres of Nevada’s Ruby Mountains.