The Trump administration is focusing on getting needed infrastructure promptly off the ground, says Dan Yergin, energy expert, Pulitzer Prize winning author and vice chairman at IHS Markit.
“Infrastructure is front and center,” Yergin told the Energy Times in a recent exclusive interview in Washington. That unites Republicans and Democrats, although they differ on “what infrastructure is and what to emphasize."
Listen in to a conversation with Dan Yergin, a featured offering of our new, wide-ranging ENERGY TALKS podcast series. Click here to listen.
Up first is process.
“The Trump administration wants to simplify and reduce lengthy reviews and permitting processes that took 7 to 8 years to be able to expedite development,” he said. “It is very difficult for companies to make decisions and know that they are going to be tied up 7 to 10 years.”
Profound shifts are underway and our energy systems – vast transmission lines and natural gas pipelines evolved to serve a different era.
“We need an infrastructure that catches up with the new reality of U.S. energy production.”
Countries like Canada and Australia demonstrate that government review and approval of major energy initiatives can be streamlined without compromising protection of the environment, allowing for “a reasonable planning horizon,” Yergin said.
The intersection of energy development and politics is the focus of Yergin’s next book, now half completed.