Oil industry analysts expect President - elect Donald Trump to slash taxes on oil and gas activity , in turn allowing for expansion and innovation . The details of his energy policy , however , are difficult to discern . He has talked about “ unleashing ” fossil fuel development , but undoing previously existing or pending regulations is easier said than done . Under Obama , the US fossil fuel industry has been driven to become more efficient and emit less greenhouse gases , but improvements have been driven in large part by a slump in oil prices .
Oil industry analysts expect President-elect Donald Trump to slash restrictions on oil and gas activity, in turn allowing for expansion and innovation. The details of his energy policy, however, are difficult to discern. Trump has talked about “unleashing” fossil fuel development, but undoing previously existing or pending regulations is easier said than done. Under Obama, the US fossil fuel industry has been driven to become more efficient and emit less greenhouse gases, but improvements have been driven in large part by a slump in oil prices.