As one of the closest US presidential contests draws to a close, GlobalData can reveal the results of a survey of readers of Offshore Technology, Energy Monitor and Power Technology offering insights into what the industry expects from the incoming administration.
Republican nominee Donald Trump and Democrat Kamala Harris are virtually tied in the polls, with a final result likely to appear on Wednesday morning.
So, what do readers think will be the different approaches to energy production, investment, and storage?
Offshore Technology’s readers
In terms of what respondents hoped would be the next administration’s priorities for offshore oil and gas (O&G), encouraging growth with additional investment was the clear winner, with building up strategic reserves second, and phasing out exploration permits a distant third.
When asked which party will promote the greatest offshore O&G growth after the election, the responses fell overwhelmingly for the Republican party.
And in terms of which party will be the safest pair of hands for the US’s offshore oil and gas industry, three-quarters of respondents went Republican.
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By GlobalDataEnergy Monitor’s readers
When asked to rank priorities around the energy transition, ramping up renewables and other sustainable energy sources came out on top.
Phasing-out fossil fuels and emissions snuck into second place, fractionally ahead of modernising and expanding grids to improve connectivity and stabilise supply.
And increasing energy efficiency measures, such as electrification and digitalisation, came in last, albeit in a very close race.
Almost 78% of readers said the election result will heavily influence whether the energy transition will actually happen, while 11% of respondents said that regardless of which party wins, the energy transition will be less prioritised than it is now.
And 11% said the transition will become more of a priority than it is now, no matter which party takes power.
When asked ‘which party do you think will accelerate the US’s energy transition?’, almost 90% of respondents went for the Democrats, although only a third of respondents actually think Kamala Harris will win the presidency.
Power Technology’s readers
As for the next administration’s priorities around the power sector, expanding and modernising grids came in top, with increasing renewables coming in second, and increasing nuclear power production taking third.
Fourth place went to increasing electric vehicles and electrification, just above increasing energy storage and batteries, which itself came in clearly above increasing hydrogen.
Last and very much least, sitting firmly at the bottom of the list, was increasing fossil fuels.
When asked to rank the next administration’s priorities around electricity generation, generating power from low-carbon or clean energy sources came in top.
Stabilising affordable power prices for all and making power “smarter”, and more resilient through digitalisation and new technologies, finished joint second.
Obtaining a reliable and uninterrupted supply of energy came in last place.
Just over 55% of respondents said the election result will heavily influence the future of the US’s power sector. Over 22% of respondents said regardless of who wins the election, the US power sector will change for the better, while 11% said it would change for the worse.
When asked which party will improve the US’s power sector, over 66% said the Democrats, while less than 14% said the Republicans.
And finally, almost 65% of respondents said they expects the Democrats to win the election.
