President Barack Obama has said he will use the executive authority of the Trump administration to put a stop to the shale gas boom, a move that could cost U.S. companies billions of dollars in new revenue.
The White House said Thursday that the new Energy Department report “does not include any regulatory guidance for energy companies, nor any proposals to use the authority of executive order to impose new limits on the production of natural gas.”
It’s a dramatic reversal of Obama’s position on natural gas regulation that President Donald Trump, a Republican, has sought to revive.
But it doesn’t seem to have had much impact.
The administration said the report, which covers the period from mid-2017 to mid-2019, did not address the possibility that a new regulatory regime would be created to ensure that U.K. gas prices would not fall if producers were allowed to export natural gas to other countries.
In a statement, the Trump transition team said it supports “any efforts to ensure the domestic production of domestic natural gas is not impacted by new regulatory or legislative mandates.”
It was unclear how Obama’s administration will enforce the new regulations.
The report says the administration may ask the Justice Department to pursue criminal charges against companies that violate the rule.
The report comes a day after the Environmental Protection Agency said it would conduct an investigation into whether new regulations for the natural gas market are needed.
It said it will review existing regulations to see if there are any that are too onerous or that are inconsistent with existing law.
In May, the U.N. climate agency said it was reviewing the effectiveness of new rules aimed at limiting the greenhouse gas emissions of oil and gas companies.
The EPA has also been working with the U:S.
State Department to find a solution to the global climate crisis.