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What the oil and gas industry wants from Trump and how the administration might deliver it

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The president-elect is setting up a new National Energy Council with the goal of “U.S. energy dominance.”

Increasing liquified natural gas exports and leasing more federal land for drilling are the top of the oil and gas industry's wish list for Trump's second term.The lobby group American Petroleum Institute has asked Trump to swiftly authorize liquified natural gas exports, expand drilling on federal lands, make pipeline permitting easier, repeal strict vehicle emissions and fuel economy standards, and keep current corporate tax rates in place.

Burgum and Wright are associated with smaller, independent oil and gas companies that prefer deeper deregulation because compliance weighs on them more than the bigger players, Book said. Book believes the incoming Trump administration is making a play to further increase the U.S. share of the global oil and gas market against OPEC and other producers.

The group also wants the incoming administration to increase federal leases to develop offshore and onshore oil and gas patches in New Mexico, the Gulf of Mexico and Alaska.

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