WASHINGTON/BRUSSELS (Reuters) – For the administration of President Donald Trump, a policy of “energy dominance” means reducing dependence on imported oil and promoting exports to boost the national economy and Washington’s political influence overseas.
For many of America’s European allies, however, it means unwelcome interference in its markets.
Trump - Administration - US - Drilling - Boom
The Trump administration has capitalized on a decade-long U.S. drilling boom to pursue some of the most aggressive foreign energy policies in the nation’s history. So far, that has meant sanctions on oil exports from OPEC-members Iran and Venezuela and threats against firms helping Russia build a natural gas pipeline into Europe.
To fill the supply gap, Washington is promoting a rising wave of U.S. crude oil and natural gas exports.
Trump - Administration - Moves - Way - Policy
The Trump administration has billed the moves as a way to achieve foreign policy goals, with the added benefit of helping both U.S. energy producers expand their markets and American allies diversify their supplies. But Washington has irritated many European diplomats and energy companies who resent its growing global influence on energy markets and view its policies mainly as a way to give U.S. producers an advantage, according to interviews with diplomats, executives and analysts.
Growing friction over energy is grating on trans-Atlantic ties that are already strained by squabbles over NATO funding, trade, climate change and diplomatic gaffes.
Value - Relationship - Partners - Allies - Friends
“We value highly the relationship with our American partners, allies and friends,” EU Economics Commissioner Pierre Moscovici told reporters at a briefing in Brussels last month. “But … they should also refrain from unilateral action.”
Moscovici also advocated using the euro in more international energy transactions, which are almost universally conducted in U.S. dollars.
Diplomacy - Point - EU - Diplomat
“We are all about the diplomacy, but you have to ask at some point whether it is worth it,” said another EU diplomat, who asked not to be named.
The diplomat spoke to Reuters at a U.S....
Wake Up To Breaking News!