Latest news with #EnergyDominanceCouncil
Forbes
3 days ago
- Business
- Forbes
Trump's Tariff Pressure Can Stimulate U.S.–Asia Energy Cooperation
WASHINGTON, DC - FEBRUARY 14: U.S. President Donald Trump, accompanied by Energy Dominance Council ... More members (L-R) Environmental Protection Agency (EPA) Administrator Lee Zeldin, Energy Secretary Chris Wright, and Interior Secretary Doug Burgum. The council will lead a summit with Asian leaders in Alaska, likely to promote American LNG to these countries. (Photo by) U.S. President Donald Trump's Energy Dominance Council plans to host a liquified natural gas summit in Alaska on June 2, where it hopes to announce that Japan and South Korea have committed to the long-pursued Alaska LNG project to ease American gas shipments to Asia. Since his return to the Oval Office, Trump has positioned hydrocarbons as the backbone of the U.S. energy portfolio and also as a lever for exerting America's geopolitical influence on the global stage. The focus on Washington's utilization of natural resources as a geopolitical tool has centered around Europe, where the U.S. helped wean its transatlantic allies off their dependence on Russian gas. Trump's push for Asian investment in the Alaska LNG project as a way to balance the region's trade with the U.S. amid the tariff disputes is a new test of U.S. energy diplomacy. Washington is seeking to leverage Asia's growing demand for energy to compel renegotiations. Once seen as a pipe dream hindered by challenges related to its scale, cost, and complexity, there is now renewed optimism regarding the $44 billion Alaska LNG project. The project, if built out, will move natural gas along an 800-mile pipeline from fields north of the Arctic circle to Southern Alaska and then be shipped on tankers to Asia, providing access to Alaska's more than 120 trillion cubic feet of natural gas and the logistical benefit of avoiding the Panama Canal, reducing bottlenecks and drastically decreasing shipment times. Alaska LNG's project creates an opportunity for the U.S. to extract LNG in the state and ship it to ... More Asian partners via an LNG facility, mocked up here. Following President Trump's suggestion that trade partners can avoid tariffs by increasing their purchases of U.S. energy, Treasury Secretary Scott Bessent confirmed that investments from Japan, South Korea, and Taiwan in the flagship LNG project could form the basis of a deal with those countries. If Trump's reciprocal tariffs are implemented, Japan, South Korea, and Taiwan would face 24%, 25%, and 32% tariffs, respectively. Japan's biggest electricity producer and gas buyer, Jera, is considering participating as part of its effort to negotiate a trade deal with the U.S., while officials from South Korea are expected to visit Alaska to discuss the project in the coming weeks. These developments follow announcements in March that Taiwanese state energy company CPC signed a nonbinding agreement with the state-run Alaska Gasline Development Group to buy U.S. LNG and invest in the project. In addition to East Asia, U.S. tariff negotiations have brought several countries in Southeast and South Asia to the table, all of which are eager to purchase energy to reduce their trade surpluses with the U.S. There's a strong convergence of interests on all sides, especially from Asia. With electricity demand in Southeast Asia growing at an annual rate of 4% and a heavy reliance on maritime oil and gas imports through the Strait of Malacca, Indo-Pacific energy security stands to benefit greatly from increased trade with the U.S. Since the onset of negotiations, several countries have started to explore the possibility of buying American energy. Bangladesh signed an agreement with Louisiana-based Argent LNG for up to five million tons per year, Indonesia has offered to buy $10 billion of additional U.S. energy goods, and Vietnam announced provisional deals for the import of U.S. energy projects to avoid tariffs. Some countries have taken measures aside from increasing their purchases of American energy products. For example, India is weighing the option to scrap its import tax on American LNG in addition to boosting U.S. oil imports, and Thailand pledged to buy more U.S. energy commodities and reduce import tariff rates on LNG and ethanol With China's suspension of U.S. LNG imports and Italian energy giant ENI's CEO Cristian Signoretto's cautionary comments on the competitiveness of American LNG as the U.S. imposes tariffs, Washington is angling to find new customers as it streamlines regulations, works to increase efficiency, and cut costs for natural gas export projects along the Gulf Coast. The Trump Administration's attempt to corral Taiwan, Japan, and South Korea into making significant investments in the Alaska LNG project signals a continuation of its departure from the U.S.'s historical 'hubs and spokes' alliance system in Asia. In addition to bilateral contacts between the U.S. and its Asian partners, Washington is no longer limiting its collective engagement in Asia to defense and security. Asian countries recognize the increasing importance of regional energy security, and the U.S.'s energy-focused outreach is striking a chord. Trump's use of energy in his carrot-and-stick approach reveals the mutual benefit of increased energy cooperation for all parties, given the region's growing energy demand. Without the resources to be self-sufficient, Asia must rely on LNG imports to meet its energy demands, and the U.S is taking advantage of the opportunity to supply. Whether this will be sufficient to counterbalance U.S. trade deficits remains to be seen: Japan and Korea had $66 billion deficits in 2024, while Taiwan's amounted to $74 billion. The Trump Administration has its work cut out for it.
The Hindu
24-05-2025
- Business
- The Hindu
U.S. President Trump signs executive orders to boost nuclear power, speed up approvals
President Donald Trump signed executive orders Friday (May 23, 2025) intended to quadruple domestic production of nuclear power within the next 25 years, a goal experts say the United States is highly unlikely to reach. To speed up the development of nuclear power, the orders grant the U.S. energy secretary authority to approve some advanced reactor designs and projects, taking authority away from the independent safety agency that has regulated the U.S. nuclear industry for five decades. The order comes as demand for electricity surges amid a boom in energy-hungry data centers and artificial intelligence. Tech companies, venture capitalists, states and others are competing for electricity and straining the nation's electric grid. 'We've got enough electricity to win the AI arms race with China,' Interior Secretary Doug Burgum said. 'What we do in the next five years related to electricity is going to determine the next 50 years in the industry'. Still, it's unlikely the U.S. could quadruple its nuclear production in the time frame the White House specified. The United States lacks any next-generation reactors operating commercially and only two new large reactors have been built from scratch in nearly 50 years. Those two reactors, at a nuclear plant in Georgia, were completed years late and at least $17 billion over budget. The nation's 94 nuclear reactors supply about 19% of the U.S. electricity, compared to about 60% for fossil fuels and 21% for renewables, according to the U.S. Energy Information Administration. At the Oval Office signing, Mr. Trump, surrounded by industry executives, called nuclear a 'hot industry,' adding, "It's time for nuclear, and we're going to do it very big.' Mr. Burgum and other speakers said 'the industry has stagnated and has been choked by overregulation. 'Mark this day on your calendar. This is going to turn the clock back on over 50 years of overregulation of an industry,'' said Mr. Burgum, who chairs Mr. Trump's newly formed Energy Dominance Council. The orders would reorganize the independent Nuclear Regulatory Commission to ensure quicker reviews of nuclear projects, including an 18-month deadline for the National Register of Citizens (NRC) to act on industry applications. The measures also create a pilot program intended to place three new experimental reactors online by July 4, 2026 — 13 months from now — and invoke the Defense Production Act to allow emergency measures to ensure the U.S. has enough uranium and other reactor fuel for a modernized nuclear energy sector. The orders also call for the Energy and Defense departments to assess the feasibility of restarting closed nuclear power plants and explore siting reactors on federal lands and military bases. 'The NRC is assessing the executive orders and will comply with White House directives,' Spokesperson Scott Burnell said Friday (May 24, 2025). Jacob DeWitte, Chief Executive Officer of the nuclear energy company Oklo, brought a golf ball to the Oval Office. He told Trump that's the amount of uranium that can power someone's needs for their entire life. 'It doesn't get any better than that,' he said, holding up the ball. 'Very exciting indeed,' Mr. Trump said. Mr. Trump has signed a spate of executive orders promoting oil, gas, and coal that warm the planet when burned to produce electricity. Nuclear reactors generate electricity without emitting greenhouse gases. Mr. Trump said reactors are safe and clean, but did not mention climate benefits. Safety advocates warn that nuclear technology still comes with significant risks that other low-carbon energy sources don't, including the danger of accidents or targeted attacks, and the unresolved question of how to store tens of thousands of tons of hazardous nuclear waste. The order to reorganize the NRC will include significant staff reductions but is not intended to fire NRC commissioners who lead the agency. David Wright, a former South Carolina elected official and utility commissioner, chairs the five-member panel. His term ends June 30, and it is unclear if he will be reappointed. Critics say the White House moves could compromise safety and violate legal frameworks such as the Atomic Energy Act. Compromising the independence of the NRC or encouraging it to be circumvented could weaken the agency and make regulation less effective, said Edwin Lyman, director of nuclear power safety at the Union of Concerned Scientists. "Simply put, the U.S. nuclear industry will fail if safety is not made a priority,' he said. Gregory Jaczko, who led the NRC under President Barack Obama, said 'Trump's executive orders look like someone asked an AI chatbot, How do we make the nuclear industry worse in this country?' He called the orders a 'guillotine to the nation's nuclear safety system' that will make the country less safe, the industry less reliable and the climate crisis more severe. A number of countries are speeding up efforts to license and build a new generation of smaller nuclear reactors to meet a surging demand for electricity and supply it carbon-free. Last year, Congress passed legislation that President Joe Biden signed to modernize the licensing of new reactor technologies so they can be built faster. This month, the power company in Ontario, Canada, began building the first of four small nuclear reactors. Valar Atomics is a nuclear reactor developer in California. Founder and CEO Isaiah Taylor said 'nuclear development and innovation in the United States has been slowed by too much red tape, while Russia and China are speeding ahead'. He said he's most excited about the mandate for the Energy Department to speed up the pace of innovation. The NRC is currently reviewing applications from companies and a utility that want to build small nuclear reactors to begin providing power in the early 2030s. Currently, the NRC expects its reviews to take three years or less. Tori Shivanandan, chief operating officer of Radiant Nuclear, a California-based startup, said the executive orders mark a 'watershed moment' for nuclear power in the U.S., adding that Mr. Trump's support for the advanced nuclear industry will help ensure its success.
Time of India
24-05-2025
- Business
- Time of India
Donald Trump signs executive orders to accelerate US nuclear development
US President Donald Trump (File Image) US President Donald Trump issued executive orders on Friday aiming to increase nuclear power production fourfold within 25 years, though experts consider this target unrealistic. The orders transfer certain authority from the longstanding nuclear safety regulator to the energy secretary, enabling faster approval of advanced reactor designs and projects. This initiative comes as electricity consumption rises, driven by expanding data centres and AI development. The power grid faces increasing pressure from tech companies, venture capitalists and states competing for available electricity. — rawsalerts (@rawsalerts) 'We've got enough electricity to win the AI arms race with China,' interior secretary Doug Burgum said. 'What we do in the next five years related to electricity is going to determine the next 50" years in the industry. Achieving a fourfold increase in nuclear production appears improbable within the specified timeframe. The US currently lacks operational next-generation reactors, with only two new large reactors constructed in nearly 50 years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 40대 이상이고 PC가 있으세요? 그럼 이 게임을 정말 좋아하실 거예요! Sea of Conquest 플레이하기 Undo These Georgia-based reactors faced significant delays and cost overruns exceeding $17 billion. Currently, 94 nuclear reactors provide approximately 19% of US electricity, whilst fossil fuels contribute 60% and renewables 21%, according to the US energy information administration. Trump displayed enthusiasm during the Oval Office signing, surrounded by industry executives, describing nuclear as a "hot industry", adding, "It's time for nuclear, and we're going to do it very big.' Burgum, who leads Trump's Energy Dominance Council, highlighted industry stagnation due to excessive regulation, stating: "Mark this day on your calendar. This is going to turn the clock back on over 50 years of overregulation of an industry." The orders aim to restructure the Nuclear Regulatory Commission, implementing faster review processes and establishing an 18-month deadline for application decisions. They include plans for three experimental reactors by July 4, 2026, and invoke emergency measures to secure uranium supplies. Additional provisions include assessing closed plant reopenings and exploring reactor placement on federal and military sites.
Boston Globe
23-05-2025
- Business
- Boston Globe
Trump signs executive orders to boost nuclear power, speed up approvals
'We've got enough electricity to win the AI arms race with China,' Interior Secretary Doug Burgum said. 'What we do in the next five years related to electricity is going to determine the next 50″ years in the industry. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Still, it's unlikely the U.S. could quadruple its nuclear production in the time frame the White House specified. The United States lacks any next-generation reactors operating commercially and only two new large reactors have been built from scratch in nearly 50 years. Those two reactors, at a nuclear plant in Georgia, were completed years late and at least $17 billion over budget. Advertisement Trump is enthusiastic At the Oval Office signing, Trump, surrounded by industry executives, called nuclear a 'hot industry,' adding, 'It's time for nuclear, and we're going to do it very big.' Burgum and other speakers said the industry has stagnated and has been choked by overregulation. 'Mark this day on your calendar. This is going to turn the clock back on over 50 years of overregulation of an industry,'' said Burgum, who chairs Trump's newly formed Energy Dominance Council. Advertisement The orders would reorganize the independent Nuclear Regulatory Commission to ensure quicker reviews of nuclear projects, including an 18-month deadline for the NRC to act on industry applications. The measures also create a pilot program intended to place three new experimental reactors online by July 4, 2026 — 13 months from now — and invoke the Defense Production Act to allow emergency measures to ensure the U.S. has the reactor fuel needed for a modernized nuclear energy sector. The NRC is assessing the executive orders and will comply with White House directives, spokesperson Scott Burnell said Friday. Jacob DeWitte, chief executive officer of the nuclear energy company Oklo, brought a golf ball to the Oval Office. He told Trump that's the amount of uranium that can power someone's needs for their entire life. 'It doesn't get any better than that,' he said, holding up the ball. 'Very exciting indeed,' Trump said. Trump has signed a spate of executive orders promoting oil, gas and coal that warm the planet when burned to produce electricity. Nuclear reactors generate electricity without emitting greenhouse gases. Trump said reactors are safe and clean, but did not mention climate benefits. Safety advocates warn that nuclear technology still comes with significant risks that other low-carbon energy sources don't, including the danger of accidents or targeted attacks, and the unresolved question of how to store tens of thousands of tons of hazardous nuclear waste. The order to reorganize the NRC will include significant staff reductions but is not intended to fire NRC commissioners who lead the agency. David Wright, a former South Carolina elected official and utility commissioner, chairs the five-member panel. His term ends June 30, and it is unclear if he will be reappointed. Advertisement Critics have trepidations Critics say the White House moves could compromise safety and violate legal frameworks such as the Atomic Energy Act. Compromising the independence of the NRC or encouraging it to be circumvented entirely could weaken the agency and make regulation less effective, said Edwin Lyman, director of nuclear power safety at the Union of Concerned Scientists. 'Simply put, the U.S. nuclear industry will fail if safety is not made a priority,' he said. Gregory Jaczko, who led the NRC under President Barack Obama, said Trump's executive orders look like someone asked an AI chatbot, 'How do we make the nuclear industry worse in this country?' He called the orders a 'guillotine to the nation's nuclear safety system' that will make the country less safe, the industry less reliable and the climate crisis more severe. A number of countries are speeding up efforts to license and build a new generation of smaller nuclear reactors to meet a surging demand for electricity and supply it carbon-free. Last year, Congress passed legislation that President Joe Biden signed to modernize the licensing of new reactor technologies so they can be built faster. This month, the power company in Ontario, Canada, began building the first of four small nuclear reactors. Valar Atomics is a nuclear reactor developer in California. Founder and CEO Isaiah Taylor said nuclear development and innovation in the United States has been slowed by too much red tape, while Russia and China are speeding ahead. He said he's most excited about the mandate for the Energy Department to speed up the pace of innovation. Advertisement The NRC is currently reviewing applications from companies and a utility that want to build small nuclear reactors to begin providing power in the early 2030s. Currently, the NRC expects its reviews to take three years or less. Tori Shivanandan, chief operating officer of Radiant Nuclear, a California-based startup, said the executive orders mark a 'watershed moment' for nuclear power in the U.S., adding that Trump's support for the advanced nuclear industry will help ensure its success.
Los Angeles Times
23-05-2025
- Business
- Los Angeles Times
Trump signs executive orders to boost nuclear power, speed up approvals
WASHINGTON — President Trump signed executive orders Friday intended to quadruple domestic production of nuclear power within the next 25 years, a goal experts say the United States is highly unlikely to reach. To speed up the development of nuclear power, the orders grant the U.S. Energy secretary authority to approve advanced reactor designs and projects, taking authority away from the independent safety agency that has regulated the U.S. nuclear industry for five decades. The order comes as demand for electricity surges amid a boom in energy-hungry data centers and artificial intelligence. Tech companies, venture capitalists, states and others are competing for electricity and straining the nation's electric grid. 'We've got enough electricity to win the AI arms race with China,' Interior Secretary Doug Burgum said. 'What we do in the next five years related to electricity is going to determine the next 50' years in the industry. Still, it's unlikely the U.S. could quadruple its nuclear production in the time frame the White House specified. The United States lacks any next-generation reactors operating commercially and only two large reactors have been built from scratch in nearly 50 years. Those two reactors, at a nuclear plant in Georgia, were completed years late and at least $17 billion over budget. At the Oval Office signing, Trump, surrounded by industry executives, called nuclear a 'hot industry,' adding, 'It's time for nuclear, and we're going to do it very big.' Burgum and other speakers said the industry has stagnated and has been choked by overregulation. 'Mark this day on your calendar. This is going to turn the clock back on over 50 years of overregulation of an industry,'' said Burgum, who chairs Trump's newly formed Energy Dominance Council. The orders would reorganize the independent Nuclear Regulatory Commission to ensure quicker reviews of nuclear projects, including an 18-month deadline for the NRC to act on industry applications. The measures also create a pilot program intended to place three new experimental reactors online by July 4, 2026 — 13 months from now — and invoke the Defense Production Act to allow emergency measures to ensure the U.S. has the reactor fuel needed for a modernized nuclear energy sector. The NRC is assessing the executive orders and will comply with White House directives, spokesperson Scott Burnell said Friday. Jacob DeWitte, chief executive of the nuclear energy company Oklo, brought a golf ball to the Oval Office. He told Trump that's the amount of uranium that can power someone's needs for their entire life. 'It doesn't get any better than that,' he said, holding up the ball. 'Very exciting indeed,' Trump said. Trump has signed a spate of executive orders promoting oil, gas and coal that warm the planet when burned to produce electricity. Nuclear reactors generate electricity without emitting greenhouse gases. Trump said reactors are safe and clean but did not mention climate benefits. Safety advocates warn that nuclear technology still comes with significant risks that other low-carbon energy sources don't, including the danger of accidents or targeted attacks, and the unresolved question of how to store tens of thousands of tons of hazardous nuclear waste. The order to reorganize the NRC will include significant staff reductions but is not intended to fire NRC commissioners who lead the agency. David Wright, a former South Carolina elected official and utility commissioner, chairs the five-member panel. His term ends June 30, and it is unclear whether he will be reappointed. Critics say the White House moves could compromise safety and violate legal frameworks such as the Atomic Energy Act. Compromising the independence of the NRC or encouraging it to be circumvented entirely could weaken the agency and make regulation less effective, said Edwin Lyman, director of nuclear power safety at the Union of Concerned Scientists. 'Simply put, the U.S. nuclear industry will fail if safety is not made a priority,' he said. Gregory Jaczko, who led the NRC under President Obama, said Trump's executive orders look like someone asked an AI chatbot, 'How do we make the nuclear industry worse in this country?' He called the orders a 'guillotine to the nation's nuclear safety system' that will make the country less safe, the industry less reliable and the climate crisis more severe. A number of countries are speeding up efforts to license and build a new generation of smaller nuclear reactors to meet a surging demand for electricity and supply it carbon-free. Last year, Congress passed legislation that President Biden signed to modernize the licensing of new reactor technologies so they can be built faster. This month, the power company in Ontario, Canada, began building the first of four small nuclear reactors. Valar Atomics is a nuclear reactor developer in California. Founder and CEO Isaiah Taylor said nuclear development and innovation in the United States has been slowed by too much red tape, while Russia and China are speeding ahead. He said he's most excited about the mandate for the Energy Department to speed up the pace of innovation. The NRC is currently reviewing applications from companies and a utility that want to build small nuclear reactors to begin providing power in the early 2030s. Currently, the NRC expects its reviews to take three years or less. Tori Shivanandan, chief operating officer of Radiant Nuclear, a California-based startup, said the executive orders mark a 'watershed moment' for nuclear power in the U.S., adding that Trump's support for the advanced nuclear industry will help ensure its success. Daly and McDermott write for the Associated Press.
