Petroleum Business Review

Abstract The United States, recognized as the leading global producer and consumer of oil, significantly influences the dynamics of the international oil market. Therefore, changes in governments and their policies in the energy sector have a significant impact on the oil market, especially for oil-exporting countries like Iran. Hence, it is imperative to conduct an analytical assessment of the implications arising from the transition of political power in the United States on the global oil market dynamics. This study examines the implications of Trump's energy policies on the global petroleum market, focusing on Iran. The research employs a qualitative, descriptive-analytical method using desk research to explore how these policies impact Iran's oil exports, market share, and geopolitical standing. Under the Trump administration, the U.S. pursued an "energy dominance" agenda characterized by increased fossil fuel production, deregulation, and a confrontational stance towards OPEC. This neo- mercantilist approach aimed to bolster U.S. energy security and economic leverage. Trump’s Key policies include expanding fossil fuel production, lifting ecological restrictions, and promoting unilateralism in the oil and gas trade. This will likely lead to a decrease in oil prices in global markets, which will, in turn, result in reduced oil revenues for Iran and put pressure on its share. Additionally, Trump's policy of regional confrontation with Iran could also impact these outcomes.

Abstract The United States’ foreign policy is influenced by specific theoretical logics that also shape its energy policies. These logics play a crucial role in understanding the country's approach to energy strategies. In this article, the authors analyze the alignment between the energy policies of the Trump and Biden administrations and the broader theoretical underpinnings of American international policy. The authors contend that the theoretical logics that drive US foreign policy has significant implications beyond foreign policy, affecting various domains, including energy. In this context, the article seeks to answer the main question, "What theoretical frameworks have shaped the energy policy of the United States from 2017-2023, during the Trump and Biden administrations?" It contends that Donald Trump’s energy policy was driven by a quest for hegemony predicated on the logic of supremacy. Conversely, Joe Biden’s energy policy embraced a multilateral orientation based on liberal internationalism and integrated environmental and climate concerns with America’s economic aspirations. The article is structured as follows: the introduction sets the context for the analysis, while the literature review examines the relevant theoretical literature. The conceptual framework section outlines the authors' theoretical approach. The subsequent sections analyze the energy policies of the Trump and Biden administrations, respectively. The authors then identify points of continuity between the two administrations before concluding.