Oil executives
cautioned it is too soon to gauge the impact of President Donald Trump's
policy proposals on their businesses, but they are looking forward to
hearing more about plans for energy regulation, trade and taxation.
Tougher
environmental regulations under the Obama administration stymied energy
infrastructure projects like the Keystone XL crude pipeline and Dakota
Access Pipeline, and required automakers and refiners to spend more to
reduce pollutants.
Spirits at the CERAWeek conference this year have been buoyed by higher energy prices after a bruising two years for the oil and gas industry. Crude fell by more than 70 percent from mid-2014 to early-2016 amid a global supply glut.
Pro-energy policies and regulatory roll-backs anticipated from the new administration could lure more investment to the industry, but so far the details of Trump's plans and a potential border adjustment tax remain unclear.
But he added, "It's too soon to say where the Trump administration is going to go on the long-term basis. We have to give them a chance to start articulating policy."
Formerly the head of LNG exporter Cheniere Energy, Souki was a high-profile supporter of Democrat Hillary Clinton, donating to her presidential campaign and the Hillary Victory Fund, a joint fundraising committee with the Democratic National Committee.
Spirits at the CERAWeek conference this year have been buoyed by higher energy prices after a bruising two years for the oil and gas industry. Crude fell by more than 70 percent from mid-2014 to early-2016 amid a global supply glut.
Pro-energy policies and regulatory roll-backs anticipated from the new administration could lure more investment to the industry, but so far the details of Trump's plans and a potential border adjustment tax remain unclear.
But he added, "It's too soon to say where the Trump administration is going to go on the long-term basis. We have to give them a chance to start articulating policy."
Formerly the head of LNG exporter Cheniere Energy, Souki was a high-profile supporter of Democrat Hillary Clinton, donating to her presidential campaign and the Hillary Victory Fund, a joint fundraising committee with the Democratic National Committee.
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