Trump Administration Invests $480 Million to Boost American Energy Production
The Trump administration continues to deliver on its promise to unleash American energy dominance. The Department of Energy (DOE) announced a $480 million loan to support Arena Energy’s Project Elkhorn, an initiative that will significantly expand oil and natural gas production in the Gulf of America.
Fox Business reports,
“The U.S. Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF) today announced the financial close of a $480 million loan for Arena Energy’s Project Elkhorn to increase oil and natural gas production across the Gulf of America shelf,” the department noted in a press release obtained by Fox News.
“The project will modernize 22 offshore platforms off the coast of Louisiana and, at peak production, is expected to add up to 38,600 barrels of oil per day and up to 77 million cubic feet of natural gas per day to U.S. energy production,” the release adds.”
The announcement comes at a critical time for American families, who continue to face high fuel prices. Rather than restricting American energy production, the Trump administration is putting existing infrastructure back to work, creating good-paying American jobs and unlocking the resources needed to power our economy.
November 12, 2026