“We (the Trump administration) need to ensure that (U.S.) resources are secure, abundant and reliable. And we need energy of all kinds.” That is the message that Ryan Peay, the newly installed Deputy Assistant Secretary in the U.S. Department of Energy, brought to an OTC audience on the afternoon of Day 2 at OTC.
Fig. 1. DOE Deputy Assistant Secretary Ryan Peay explains his department’s priorities to Moderator Art Schroeder (Co-founder and Board Member, Safe Marine Transfer, LLC and World Oil editorial advisor) during an Executive Dialogue session. Image: OTC.
In expounding on this message during an Executive Dialogue session (Fig. 1), Peay described to moderator Art Schroeder (co-founder and board member of Safe Marine Transfer, LLC, and a World Oil editorial advisor) how the Trump administration is working to improve the upstream operating climate by lessening regulatory hurdles. Peay said that many of these regulatory burdens were imposed on upstream companies during the Biden regime. “The administration is looking closely at how it can unburden permitting,” explained Peay. “When we let the market decide, we will ensure plentiful [supplies] at lower prices. The DOE has a major role to play, to achieve this policy.”
Markets and LNG. Peay noted that the administration is also working to ensure that global oil and LNG markets remain balanced. “In the first 100 days of his administration, President Trump has met with leaders on energy from Saudi Arabia, the UAE, Qatar, Jordan, Poland, Central Europe, and more, with regard to oil and prices.” said Peay. “We’re also looking at how we can export LNG from the U.S. to countries without an existing free trade agreement.”
Peay remains bullish on prospects for U.S. LNG exports. “We expect LNG exports to reach a record high of 15 Bcfd this year, and we expect this figure to rise to another record high in 2026 at 16 Bcfd.”
DOE’s support of technology. Peay reiterated that President Trump and Energy Secretary Chris Wright are committed to advancing American oil and gas technology, including the National Energy Technology Laboratories within DOE. “The secretary has asked us to look at everything we do through the lens of [abundance]. What our portfolio does is look at the potential solutions to produce more oil and gas. We have had two recent opportunities to fund field research on improving EOR. One is already approved, and the other is in progress [to be funded].
Final subjects. On some additional topics, Peay noted that Secretary Wright is “very interested” in geothermal energy. He said that DOE is also looking to expand the nuclear power market. Last, but certainly not least, Peay said that oil and gas personnel levels are “critically important” to the industry’s future and are treated accordingly within DOE. He explained that the department is committed to helping the industry recruit and retrain younger people. To that end, DOE has an intern program geared to current college students.
