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US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC on November 13, 2024.

Allison Robbert | AFP | Getty Images

The oil and gas industry has a “to do” list for President-elect Donald Trump.

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.

This five-point roadmap is how the industry sees Trump’s three-word slogan “drill, baby, drill” translating into concrete policy. Trump told NBC News in an interview that aired Sunday that he intends to sign executive orders related to energy when he takes office on Jan. 20, without providing further detail.

Trump is setting up a National Energy Council that he says will oversee a path to U.S. energy dominance by cutting red tape. His pick for interior secretary, North Dakota Gov. Doug Burgum, will chair the council and also have a seat on the National Security Council.

The council will consist of all federal agencies involved in permitting, production, generation, distribution and regulation of energy, Burgum said in a statement after Trump selected him for the position.

“What they are envisioning for the Energy Council is the whole-of-government approach for energy security,” API President Mike Sommers said of the incoming administration. The council should focus on making sure enough infrastructure and production is in place to protect U.S. energy security for the next 25 years, Sommers said.

Trump’s pick for energy secretary, Liberty Energy CEO Chris Wright, will also serve on the council. The president-elect’s selection of Burgum and Wright indicates the administration intends to slash regulation deeply, according Kevin Book, managing director of ClearView Energy Partners, an energy research firm.

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.

Wright’s Liberty Energy is a relatively small oilfield services firm with a market capitalization of $2.8 billion. Burgum leads a state in which fossil fuel production makes up a significant portion of its gross domestic product and many of the oil and gas operators are smaller companies, Book said.

“You probably find a more independent oil and gas company voice in the selection of Chris Wright for energy secretary and with probably a deeper deregulatory bent as a consequence,” Book said. It is probably safe to say Burgum shares this view, the analyst said.

More LNG exports, drilling

The stated mission of Trump’s council is energy dominance, but the U.S. has been producing more oil than any country in history for six years in a row now, according to Department of Energy data. And the U.S. was the world’s largest exporter of natural gas in 2023, according to DOE data.

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 question is what can this council actually do to improve market share, to improve the U.S. competitive position relative to other hydrocarbon producers in the world,” the analyst said.

API wants Trump to lift the pause on new LNG export projects on his first day in office and quickly process pending applications to export LNG. The Biden administration imposed the pause to review the environmental and economic impact of LNG exports.

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.

The Biden administration offered the fewest offshore oil and gas leases in U.S. history under a plan that allowed companies to drill in a maximum of three new areas exclusively in the Gulf of Mexico through 2029, according to the Interior Department.

“These are 30- to 40-year production leases,” Sommers said. “We need that inventory now so that we can continue to produce for the future.”

More leases to develop production may increase supplies over the medium to long term, but investment decisions ultimately depend on the supply and demand fundamentals in the oil market, said Bob McNally, who served as an energy advisor to President George W. Bush.

Presidents can “kneecap production” by making bad policy choices, but there’s little they can do to increase output quickly, McNally said.

“In the grand scheme of things, how much gets invested in production depends a lot more on the price of oil, which the president has virtually no control over,” McNally said.

Don’t miss these energy insights from CNBC PRO:

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Ford dealers told to brace for EV rush as incentive cutoff nears

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Ford dealers told to brace for EV rush as incentive cutoff nears

With the federal EV incentive set to expire at the end of September, Ford is urging its dealers to prepare for a rush of buyers.

Ford warns dealers of upcoming EV rush

Like most automakers, Ford is preparing for a shakeup under the Trump Administration. After the “One Big Beautiful Bill” was signed into law on July 4, the $7,500 and $4,000 tax credit for new and used EVs will no longer be available after September 30.

In a memo sent to dealers this week, Ford warned, “demand is expected to increase as the deadline approaches for eligible vehicles.”

The letter (via CarsDirect) confirmed that the EV tax credit “will no longer be available for vehicles acquired after September 30, 2025.”

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Ford blamed Trump’s new bill for the expected rush of EV buyers ahead of the incentive deadline. Although the Mustang Mach-E doesn’t qualify for the credit, since it’s built in Mexico, Ford is passing it on through a leasing loophole. While it’s still available, the F-150 Lightning does qualify for the credit when purchased or leased.

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2025 Ford Mustang Mach-E (Source: Ford)

Last week, Ford launched its new “Zero, Zero, Zero” summer sales promo, offering a $0 down payment, 0% interest for 48 months, and zero payments for the first 90 days on most Ford and Lincoln vehicles.

The new campaign replaces the employee pricing for all campaign, which ran through the first half of the year. Despite outpacing the industry with overall sales rising 14% in Q2, Ford’s EV sales fell by nearly a third.

Ford-EV-rush
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)

Ford spokesperson Martin Gunsberg told Electrek that electric vehicle sales were lower due to the Mustang Mach-E recall and the transition to the 2025 model year. “Our dealers can’t sell what they don’t have,” Gunsberg said.

Although the Mach-E doesn’t qualify for the credit when purchased, it’s still one of the best EV lease deals available right now, starting at $395 per month. The offer is for 36 months with no down payment required.

Ford-EV-rush
2025 Ford F-150 Lightning (Source: Ford)

Ford isn’t the only one preparing for big changes over the next few months. Honda extended its ultra-low lease offer on the Prologue until the end of September. Hyundai and Kia are slashing prices with generous discounts ahead of the deadline. The 2025 Hyundai IONIQ 5 might be the best EV deal at just $179 per month right now.

Looking to snag the savings while they are still available? You can use our links below to find deals on top-selling electric vehicles in your area.

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Tesla engineer admits Tesla didn’t maintain Autopilot crash records amid trial over fatal crash

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Tesla engineer admits Tesla didn't maintain Autopilot crash records amid trial over fatal crash

A Tesla engineer admitted in court that Tesla didn’t maintain Autopilot crash records before 2018, 3 years after launching the ADAS system, in a trial over the death of a bystander in a crash involving Autopilot.

Tesla is currently on trial in Miami over a crash involving a 2019 Tesla Model S that was operating on Autopilot.

The case attempts to place some responsibility on Tesla for creating complacency with drivers, who were led to believe Autopilot could do more than it actually could.

George McGee was driving his Model S on Autopilot in Key Largo in April 2019 when he dropped his phone and looked down to pick it up when the car blew past a stop sign at a T intersection, and crashed into a parked Chevrolet Tahoe.

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22-year-old Naibel Benavides Leon and her boyfriend Dillon Angulo were standing next to the parked Tahoe. Benavides died and Angulo was seriously injured.

The police charged McGee with reckless driving, but the families of the victims sued both McGee and Tesla. McGee settled with the plaintiffs, but Tesla hasn’t.

The automaker has been sued many times over fatal crashes related to its Autopilot and Full Self-Driving systems. Recently, Tesla settled a few of those lawsuits, but this one is the first to make it to trial.

The plaintiffs allege that Tesla’s communications regarding Autopilot have led drivers, such as McGee, to become complacent and use Autopilot in a manner that led to this crash. They also claim that Tesla misrepresented the safety of Autopilot and failed to deploy proper driver monitoring to ensure its safe use.

The trial started on Monday and on Thursday, the jury heard testimony from Tesla software engineer Akshay Phatak who said that Tesla didn’t even complete records of Autopilot crashes before March 2018 (via Law360):

At the end of the first day of testimony, jurors watched part of the videotaped deposition of Tesla software engineer Akshay Phatak in which he said Tesla did not maintain records before March 2018 for evaluating whether it was safer to operate Tesla vehicles with the autopilot engaged or shut off.

When asked if Tesla maintained records or data before 2018 that kept track of the number of crashes that occurred per vehicle mile driven with the autopilot engaged, he replied simply, “No.”

That’s despite Tesla launching Autopilot almost 3 years prior. The jury will hear more of Phatak’s deposition today after Tesla attempted to keep it out of court over claims that it contains “sensitive trade secrets.”

Plaintiffs also challenged Tesla’s Autopilot safety report. We previously highlighted how Tesla suddenly stopped reporting the statistics and only started again a year later, while updating older data.

Dr. Mendel Singer testified on Tuesday and highlighted the discrepancy:

He noted that Tesla offered corrections to the vehicle safety report in January 2023 after finding some errors and miscounts. The crash data for when the autopilot was on stayed about the same, but the crash rate for when the autopilot was off went up by about 50% in the updated report, he said.

Mary Cummings, a professor and director of the Autonomy and Robotics Center at George Mason University and a longtime critic of Tesla’s self-driving efforts, is expected to testify today.

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Redwood is repurposing GM’s EV batteries into energy storage

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Redwood is repurposing GM's EV batteries into energy storage

General Motors and Redwood Materials are joining forces to take EV battery tech beyond the road and onto the grid. The two companies just signed a non-binding memorandum of understanding that sets the stage for turning both new and second-life GM batteries into energy storage systems to support the US’s rising electricity demand.

The collaboration aims to help the grid keep up with the surge in power-hungry applications, from AI data centers to electrified transport and industry.

“The market for grid-scale batteries and backup power isn’t just expanding, it’s becoming essential infrastructure,” said Kurt Kelty, GM’s VP of batteries, propulsion, and sustainability. “Electricity demand is climbing, and it’s only going to accelerate… GM batteries can play an integral role.”

Redwood launched a new venture in June called Redwood Energy that repurposes both new and used EV battery packs into fast and cost-effective energy storage systems. Today’s announcement allows Redwood to use second-life batteries from GM EVs and new GM battery modules to create US-built energy storage systems.

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This isn’t just a future plan – it’s already happening. GM’s repurposed EV batteries are currently powering the biggest second-life battery project in the world. Located in Sparks, Nevada, Redwood’s 12MW/63MWh installation is also the largest microgrid in North America and supports Crusoe, an AI infrastructure company.

“Electricity demand is accelerating at an unprecedented pace,” said JB Straubel, Redwood’s founder and CEO. “Both GM’s second-life EV batteries and new batteries can be deployed in Redwood’s energy storage systems, delivering fast, flexible power solutions.”

And the timing couldn’t be better. AI data centers alone are expected to triple their share of US electricity use, from 4.4% in 2023 to 12% by 2028. That’s driving the urgent need for scalable, domestic energy storage.

GM and Redwood Materials say they’ll share more details on their plans later this year.

Read more: Arizona brings a huge grid battery online ahead of peak demand


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