What the US midterm elections mean for energy

The language being used to describe the Democratic Party’s successes in the US midterm elections has been dramatic. The results, which will make the Democrats the largest party in both the Senate and the House of Representatives, have been called “an extinction-level event” and “a Chernobyl-level disaster” for the Republicans.

But despite the adrenaline-fuelled commentary, not much will change in US energy policy when the new Congress is seated next year. President Donald Trump has pledged to use his veto power to block legislation he sees as harmful, and the Democrats will not have the two-thirds majorities in the Senate and House needed to override those vetoes. To pass, legislation will need support from Republicans, probably including the president.

Meanwhile, President Trump will retain the ability to implement his agenda through regulations and executive actions. The signature initiatives of his second term, his tariff strategy and the conflict in the Middle East, have been pursued without any formal support from Congress, and he will have broad leeway to take action despite the gains made by Democrats.

The most significant impact on President Trump’s actions is likely to come from increased scrutiny, as a result of Democrats taking control of Congressional committees and setting their own agenda for investigations.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →