White House Aide Proposes U.S. Energy Department Shift Funding to Oil and Gas Infrastructure

U.S. Energy Department’s Shift in Focus

The U.S. Energy Department’s loan office should fund oil and gas infrastructure, according to a White House aide. Jarrod Agen, a deputy assistant to the president and executive director of the National Energy Dominance Council, stated at a Politico conference on energy that the Loan Programs Office (LPO) should shift its focus from renewable projects to oil and gas-related initiatives.

The LPO, which expanded significantly under former President Joe Biden, has hundreds of billions of dollars in loan and loan guarantee capacity. Agen noted that the administration is changing the LPO’s priorities to invest more in oil and gas and nuclear projects.

President Donald Trump’s energy dominance council aims to increase oil and gas output and reduce climate and pollution regulations on fossil fuels. The Trump administration plans to offer tens of billions of dollars in LPO financing over the next two years for projects developing nuclear and geothermal power and minerals used in various technologies.