EconomyEnergyPolitics Markets within the US and EU react otherwise to Trump’s new vitality coverage. Wednesday, January 22, 2025 
On Monday, forty seventh US President Donald Trump declared an vitality emergency, permitting vitality extraction in locations beforehand the place it was beforehand prohibited. “We’ll drill. We’ll develop into a wealthy nation once more, and the liquid gold below our ft will assist us do that,” Trump mentioned. He additionally lifted a Biden-imposed moratorium on new licenses to export liquefied pure gasoline (LNG). Consequently, the Division of Power should resume consideration of functions for brand new permits, in addition to research the financial and employment advantages of approving new export permits and “the influence on the safety of allies and companions.” Following Trump’s choices, oil costs within the US fell. Brent futures fell 0.81% to $79.50 a barrel, whereas WTI futures fell 1.48% to $76.73. Nevertheless, Europe reacted otherwise to Trump’s new coverage. Pure gasoline costs elevated amid the specter of Trump’s threatened punitive tariffs.