Trump's Energy Agenda Sets Stage for Soaring Gas Prices

US natural gas prices are projected to double by the late 2030s due to President Donald Trump's push for artificial intelligence data centers. The report from Oil Change International found that this surge in demand is driven by Trump's 'energy dominance' agenda, which has cranked up natural gas exports.

Nearly 90 million metric tons of new annual liquefied natural gas (LNG) export capacity reached a final investment decision as of June. Combined with existing projects, the researchers predicted that these initiatives could double US LNG exports by the early 2030s.

The development of data centers has accelerated under Trump's administration, which has fast-tracked federal permits for developers and loosened environmental review processes. The report found that gas is expected to power much of the near-term energy use from these facilities, increasing gas consumption by 17% by the early 2030s.

As a result, more demand will require producers to expand drilling in parts of the country where it's significantly more expensive to operate. The Trump administration and Republicans in Congress have also gutted federal support for wind power construction and other renewable energy sources, further increasing dependency on gas.