Trump to declare energy emergency, expanding his legal options to eliminate high costs

President-elect Donald Trump will announce a emergency situation in the country after his inauguration on Monday to lower energy costs, a new White House official told reporters.

A national energy emergency would “unlock various powers” to extract more natural resources, the official said, without specifying what powers Trump would use.

“The national energy emergency is critical because we are in an AI race with China, and our ability to produce domestic American energy is so important that we can produce the electricity and energy we need to stay at the forefront of global technology “, the official told journalists.

Trump also intends to sign an executive order to wind down Alaska’s energy production, the official said, without giving specifics.

“Alaska is very important to our national security, given its geostrategic location, and is an important place from which we can export LNG not only to other parts of the United States, but also to our friends and allies in the Asia-Pacific region,” the official said.

The US has been the world’s largest producer of crude oil for years, ahead of Saudi Arabia and Russia. The CEOs of Exxon and Chevron said oil and gas production levels are based on market conditions and are unlikely to increase in response to who is in the White House.

This is a developing story. Check for updates.