With energy bills remaining a point of contention on the campaign trail, former President Donald Trump is promising to increase energy production, generation and supply starting on Day 1 if elected this November.
“During election years, we frequently see promises to increase energy supply in order to decrease costs to consumers,” noted Bracewell’s Scott Segal to NBC News.
But Segal cautioned that “while increased domestic production can be a hedge, it’s not likely to have much near-term impact at the pump.”
Consumer advocates say the government already has means to reduce household energy bills that could be strengthened to deliver more relief.
There are early signs of a potential revival in nuclear power, but only two new reactors have come online nationwide in almost 30 years. While Segal said next-generation small modular reactors “are a promising technology,” ramping up on those “from a standing start seems to be a long shot in reducing electricity prices in a 12-24 month time frame.”
