Promises Kept (Trump’s Energy Agenda)

Alaska Opens for Drilling

On Monday, top Trump officials announced a sweeping plan, setting the stage for a dramatic expansion of oil and gas drilling in some of the nation’s untouched landscapes.

Interior Secretary Doug Burgum, joined by leaders from the Environmental Protection Agency and the Department of Energy, unveiled the proposal during a high-profile visit to Alaska’s North Slope, signaling a renewed drive to unleash the state’s vast energy resources.

The move specifically targets the National Petroleum Reserve-Alaska (NPR-A), a 23-million-acre expanse about 600 miles north of Anchorage, bounded by the Chukchi and Beaufort seas.

Originally established in the early 20th century as a strategic fuel reserve for the U.S. Navy, the NPR-A now stands as the largest single tract of public land in the country, home to grizzly and polar bears, caribou and hundreds of thousands of migratory birds.

In 1976, Congress authorized commercial development of the reserve but mandated a careful balance between energy extraction and conservation

Last year, the Biden administration imposed sweeping restrictions on oil and gas development across more than half of the NPR-A, designating 13 million acres as “Special Areas” off limits to leasing unless operators could prove minimal or no adverse effects on surface resources.

Secretary Burgum argues, however, that Team Biden “prioritiz[ed] obstruction over production and undermin[ed] our ability to harness domestic resources at a time when American energy independence has never been more critical.”

The Trump administration’s proposal would rescind Biden-era restrictions, opening millions of acres to new drilling and mining projects.

The announcement drew immediate praise from Alaska’s oil industry and many state leaders, who have long chafed at what they see as federal overreach. “The National Petroleum Reserve in Alaska was set aside to support America’s energy security through responsible development,” Secretary Burgum notes.

President Trump vows to double the oil flowing through Alaska’s pipeline system and to advance a massive liquefied natural gas project aimed at both domestic use and export to Asian markets.

The administration’s delegation to Alaska notably included representatives from Japan, South Korea, Taiwan and the Philippines, spotlighting international interest in Alaska’s energy potential

Alaska’s Native communities remain divided — some support new projects for the jobs and revenue they bring, while others worry about threats to subsistence hunting and traditional ways of life. Still, several Alaska Native leaders welcomed the visit, after years of feeling sidelined by the previous administration.

Meanwhile, just days after the Alaska announcement, the administration fast-tracked the reopening of the long-dormant Velvet-Wood uranium mine in Utah, highlighting a broader vision for U.S. energy dominance.

Utah Uranium Moves Forward

The Velvet-Wood mine, located 35 miles south of Moab, Utah, is the first project to benefit from President Trump’s January 2025 declaration of a “national energy emergency.”

Under this order, federal agencies can expedite environmental reviews for critical energy projects, slashing approval times from months or years to as little as 11 days.

“President Trump has made it clear that our energy security is national security,” Burgum says. “These emergency procedures reflect our unwavering commitment to protecting both.”

The administration’s rationale is straightforward: With the U.S. importing about 98% of its uranium—much of it from allies like Canada and Australia, but also from nations like Kazakhstan and, until recently, Russia — domestic mining is seen as a matter of national security.

“By simplifying the review process for essential mineral projects like Velvet-Wood, we’re reducing dependence on foreign adversaries,” Burgum adds.

Once a cornerstone of Moab’s Cold War-era uranium boom, the Velvet-Wood mine has sat idle since the 1980s. Now, Canadian firm Anfield Energy is poised to reopen it, tapping into known deposits of uranium and vanadium and promising jobs and infrastructure improvements for the region.

The Interior Department estimates the operation will disturb just three new acres of land; yet the rapid approval process has sparked backlash from environmental groups who argue that the “energy emergency” is a political construct and not a legitimate crisis. (More on that later in today’s issue.)

Despite the pushback, the White House’s master plan is clear: Cut red tape, boost domestic production and leverage America’s resources for economic and strategic advantage.

The Trump administration’s aggressive push to unlock Alaska’s energy reserves and fast-track critical mineral projects is not merely a policy shift — it marks the opening chapter of what Paradigm’s macro expert Jim Rickards calls “America’s Birthright” moment.

As the drive to revitalize American energy stretches from the Arctic tundra to the red-rock deserts of the West, the nation stands poised to accelerate its energy ambitions and unlock, what Jim argues, is a $150 trillion trove of critical resources long sequestered on federal lands.

A “Stunning” Market Prediction

“It is stunning how often the stock market — and the movement of various technical indicators — is able to predict the future,” says Paradigm’s pro trader Enrique Abeyta.

“We see this happening right now,” he says. “One of these signals is how quickly the stock market recovered to near its highs after a steep sell-off.

“Here is a table from one of my favorite research services, Bespoke Investment Group, that shows how the S&P 500 performs after it has sold off at least 15% and then recovered to within 3% of a new all-time high…

Source: Bespoke Investment Group

“This has happened 15 times since 1954, and the S&P 500 has been up every single time six months later,” Enrique notes. “It is also up almost three times the normal amount over that period on average.

“Here’s a signal from another great service called SubuTrade.com, showing what happens next when the S&P 500 is up 18% over 35 trading days…

Source: SubuTrade.com

“This has happened only seven times before, and the stock market is also up every single time in six months. Plus, it’s up more than four times the normal move.

“I have another dozen or more of these types of signals,” Enrique summarizes. “They are all saying the same thing… The stock market is headed higher.

“Focus on price,” he adds. “The market will reward you!”

Looking at our screen today, stocks are rebounding modestly — with the tech-heavy Nasdaq leading the way: up 0.25% to 19,455. At the same time, the S&P 500 is up 0.20% to 5,980 while the Big Board is up 0.10% to 42,570.

Turning to commodities, the price of crude is down 0.85% to $62.85 for a barrel of West Texas Intermediate. As for precious metals, gold is up 0.60% to $3,397.50 per ounce; silver, on the other hand, is down 0.25% to $34.55.

While Bitcoin’s down 0.80% to $105,430 at the time of writing, Ethereum’s rallying almost 2% to $2,675.

As for the leading U.S. economic indicators today…

• S&P Global Composite PMI (May 2025): The Composite PMI rose to 52.1 in May, up from 50.6 in April, signaling the fastest pace of private sector growth in, well, two months. The uptick was led by a rebound in services, while manufacturing remained sluggish. New orders increased, but higher tariffs pushed up costs. Business sentiment? Cautious

• Initial Jobless Claims (week ending May 24, 2025): Initial claims for unemployment benefits rose to 240,000, the highest in several months and above expectations. Meanwhile, the number of people continuing to receive unemployment benefits climbed over 1.9 million — the highest number since late 2021.

For what it’s worth, according to the ADP Employment Report, only 37,000 new private-sector jobs were added in May, far below expectations and sharply down from April.

DOE Halts Coal Plant Shutdown

The U.S. Department of Energy (DOE) has taken the unusual step of issuing emergency orders to keep a fossil-fuel power plant running in the Midwest, citing concerns about grid reliability as summer demand surges.

The DOE’s emergency authority comes from Section 202(c) of the Federal Power Act, which allows the government to intervene during grid emergencies.

On May 23, Energy Secretary Chris Wright directed the Midcontinent Independent System Operator (MISO) to ensure the continued operation — for at least 90 days — of the J.H. Campbell coal-fired power plant in West Olive, Michigan, just days before its planned retirement.

Source: X, mlive.com
J.H. Campbell power plant in West Olive, Michigan

The plant — which can generate 1,560 megawatts of electricity at its maximum instantaneous generating capacity — was set to close 15 years before the end of its intended lifespan as part of Michigan’s green-energy transition.

Federal officials justify the move by pointing to recent assessments from the North American Electric Reliability Corporation (NERC), which warns that the MISO region faces an elevated risk of electricity shortfalls this summer due to rising demand and the retirement of thermal power plants.

Last summer, FYI, MISO narrowly avoided blackouts by importing power from neighboring PJM, but both regions now expect even tighter supplies.

While critics argue the order is unnecessary and could raise electricity costs (?), supporters say it is essential to prevent blackouts and maintain grid stability.

This as the rapid growth of AI and associated data centers, combined with the closure of coal and other fossil fuel facilities, has left the national grid with a much thinner reserve margin than in previous years.

[Update: Further underscoring the need for reliable, dispatchable power this summer, on May 31, the Trump administration ordered PJM’s Eddystone oil-gas facility outside Philly to remain operational by emergency order. Stay tuned for more on the rapidly changing energy landscape.]

A “Rainmaker” Behind Bars

Nigerian TikTok star Murja Kunya just learned that making it rain can land you in hot water — at least if you’re doing it with naira notes.

Kunya, who boasts over a million followers as well as a knack for courting controversy, was sentenced to six months in jail after a court in Kano caught wind of her “spraying” cash at a party — a beloved local tradition, but one that Nigerian law now prohibits.

The judge, perhaps with a sense of irony, gave her a choice: Spend half a year behind bars or cough up a 50,000 naira fine (about $33).

Guess she pissed away all her cash reserves?

As a bonus, now Ms. Kunya’s been drafted as an online anti naira-abuse crusader, ordered to use her social media clout to tell everyone else not to do what she did.

Source: X
Murja Kunya’s mugshot

Kunya is no stranger to legal drama, having been repeatedly arrested for her “immoral” videos in the conservative Muslim state of Kano. This latest escapade saw her dodging law enforcement for weeks before finally pleading guilty.

While “spraying” cash is a staple at Nigerian celebrations, authorities insist it’s an insult to the currency. And local celebrities like Kunya are learning the hard way: In Nigeria, if you treat money like confetti, you might just pay the price.

It’s a shame the same rules don’t apply at the Federal Reserve…

Take care, reader! We’ll be back at it Thursday.

Best regards,

Emily Clancy
Associate editor, Paradigm Pressroom's 5 Bullets