President Donald Trump was inaugurated for his second, non-consecutive term on Monday, January 20. Together with Secretary of Energy Chris Wright, President Trump acted swiftly to prioritize domestic energy production and deregulation. Over the course of his first 33 days (at the time of the publishing of this report), he has announced numerous executive orders, including one declaring a national energy emergency. The aim is to fast-track approvals for energy infrastructure, seeking to boost domestic fossil fuel production by lifting some of the federal regulations imposed by previous administrations and tapping into Alaska's resource potential. The measures come as President Trump follows through on his campaign promise of unleashing American energy, calling on the industry to "drill, baby, drill" to both lower living expenses for the average US household and for the country's oil and gas to play an even bigger role on the global stage.

Rystad Energy's global research and advisory teams have been tracking these announced policies and their impact on the domestic and global energy markets and have launched a 'Trump and Energy' special report series. This report synthesizes the work conducted by hundreds of analysts, consultants and local experts. Between 12 August 2024 and 21 February 2025, we have produced more than 50 insight pieces and reports covering the potential impacts of the new administration. At the same time, our Advisory team has been partnering with dozens of energy market participants, including small and major energy companies and their suppliers, as well as regulators and non-governmental organizations. This makes us well-positioned to 'put the pieces together' in this condensed report. The full report focuses on three key topics: domestic energy policies, trade and tariffs and international response.
This is a condensed version of the full report, which is available to our clients on the Rystad Energy Client Portal.