President-elect Donald Trump. Image courtesy of Transition 2017/Youtube.

President-elect Donald Trump has pledged to lift restrictions that he believes have hampered job growth in the energy sector.

In a video message posted on Monday, Trump said he plans to “cancel job-killing restrictions on the production of American energy,” including regulations governing shale oil and gas production as well as coal mining.

Trump said reducing regulations will create “many millions of high paying jobs” in the energy sector.

“That’s what we want, that’s what we’ve been waiting for,” Trump added.

Trump has not disclosed details about the regulations his administration would lift or alter.

The global oil and gas industry has seen several massive waves of layoffs since oil prices began declining in the summer of 2014.

According to data collected by Continental Resources seen by Forbes, global oil and gas companies shed over 200,000 jobs as of October 2015.

U.S. services firms, including Schlumberger and Halliburton, accounted for tens of thousands of those job cuts.

Services firms has been particularity hard hit by layoffs as upstreams delayed projects and cut spends to cope with low crude prices.

Trump has made energy sector jobs a centerpiece of his plans for his first 100 days in office.

According to a plan for his first 100 days seen by NPR, Trump intends to “lift the restrictions on the production of $50 trillion dollars’ worth of job-producing American energy reserves, including shale, oil, natural gas and clean coal.”

While on the campaign trail, Trump proposed lifting restrictions governing oil and gas drilling on federal lands.

Trump has also suggested he will overhaul the Environmental Protection Agency and has called environmental enforcement a “self-inflicted wound” on U.S. energy production.

During the second presidential debate in October, Trump said the EPA “is so restrictive that they are putting our energy companies out of business.”

In an energy policy speech delivered earlier this year, Trump said he would ask pipeline company TransCanada to renew its permit application for the Keystone XL pipeline.

During that speech, Trump added that he would declare “American energy dominance…a strategic economic and foreign policy goal of the United States.”


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