Despite President-elect Donald Trump’s outspoken criticism of renewable energy, a growing number of experts believe that the second Trump administration is likely to pursue an “all-of-the-above” energy strategy that encompasses both fossil fuels and clean energy. Several key figures in the incoming president’s inner circle have discussed using such an approach to advance America’s energy plans, a major indication that Trump’s impact on the country’s burgeoning green energy sector may not be as bad as previously feared.
The Biden administration championed the use of renewables instead of fossil fuels and spent billions of dollars trying to build the country’s green energy capacity and limit its reliance on fossil fuels. While this strategy was praised by environmentalists who supported replacing oil, coal and the ilk with renewables, it put the current administration at odds with the oil industry and leading Republicans like Trump.
Based on his previous comments and actions regarding the fossil fuel industry, and with America’s oil segment poised to make a killing this year, it is extremely unlikely that Trump will take any action against fossil fuels. While the U.S. President cannot influence how much oil the industry produces, he can help create a business environment that encourages the industry to up its production, something Trump will most likely do once he assumes office.
Green energy could also thrive during Trump’s second administration if he adopts an ‘all of the above’ energy strategy that takes advantage of all available sources of energy. Donald Trump’s Energy Secretary nominee Chris Wright has called for a rebrand of renewable energy and says rebranding clean energy to alternative energy or just energies could get a lot of Republicans on board with the idea of including renewables in their energy strategy.
After all, renewables like wind and solar greatly appeal to the GOP ideal of independence and self-reliance. With the majority of the country’s green energy coming from within its borders, the U.S. would be less reliant on energy imports from other countries and, thus, less vulnerable to disruptions in the energy market. Furthermore, renewables create job opportunities for Americans and have employed at least a hundred thousand people so far.
Solar and wind, the two most dominant sources of clean energy, are especially big in traditionally Republican states like North Dakota, Oklahoma, and Texas and are sure to create many more employment opportunities in the future. As the Trump administration seeks to insulate the country’s energy supply chain and boost local production, cheap and domestically produced energy is likely to be looked upon favorably, even if it is renewable.
If the “all-of-the-above” position holds, enterprises like Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) that are looking to tap into the energy transition by availing the needed minerals could see their stocks field significant investor interest as the years go by.
NOTE TO INVESTORS: The latest news and updates relating to Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF) are available in the company’s newsroom at https://ibn.fm/RFLXF
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