President Biden has imposed tighter regulations on the oil and gas sector, a stark contrast to former President Trump, who actively defended these industries. Somers noted the differing impacts of their policies on energy and expressed that reforms are essential for the U.S. to outpace China in artificial intelligence and handle domestic energy challenges.

“If we want to compete with China in AI, we’ll need to maximize our domestic energy production,” Somers stated. He emphasized how Biden has focused on halting oil and gas exploration, which in turn, limited U.S. resources, while appreciating Trump’s efforts to harness these resources for America’s economic benefit.

Senator Dave McCormick also acknowledged the upcoming Pennsylvania Energy and Innovation Summit, which aims to highlight advancements in energy and AI, alongside significant investments expected to be announced.

Somers will join Trump and various officials in Pittsburgh for discussions on energy technology innovation. Reports suggest they will reveal around $70 billion directed towards energy and AI investments.

He argued that leveraging natural gas is crucial to fulfilling America’s future electricity demands, especially as electricity consumption could soar by 25% by 2030, according to projections. Somers believes natural gas is a promising energy source, particularly vital for power-hungry AI data centers.

Amid Biden’s regulatory challenges, Somers highlighted the need for legislative changes to promote growth in the oil and gas sectors. He mentioned that a well-crafted energy law could greatly impact the future but more supportive policies are required to solidify the legal framework.

Reflecting on infrastructure, Somers critiqued the previous bill’s limitations, which he felt didn’t adequately support energy distribution where it was most needed.

He characterized the abrupt policy shifts as creating “whiplash” for energy companies, which are now adjusting from Biden’s restrictive approach to the more favorable environment under Trump. According to Somers, Biden’s policies have often obstructed energy development in the U.S.

As oil and gas prices have seen fluctuations tied to market expectations, Somers stressed the importance of ensuring American producers have access to fair prices to continue resource development. With current oil prices hovering around $70 per barrel, the narrative indicates a strong need for policies that allow companies to leverage their resources effectively.

“By exploring federal lands and waters, we can maintain lower prices for consumers,” Somers concluded, emphasizing the potential for stable energy production aligned with consumer needs.