Donald Trump has declared that “the golden era of American energy is now underway” – as he shifts the US away from renewable energy through proposed budget cuts and by withdrawing the country from the landmark Paris agreement on climate change.

At the Unleashing American Energy event, Mr Trump touted that the administration has “finally ended the war on coal” and asserted that America will be energy-dominant.

The President began his remarks by thanking energy executives and labour union leaders in the room.

“You've gone through eight years of hell,” he told them.

“We are putting the coal miners back to work just like I promised,” Mr Trump said. “We are ending the intrusive [Environmental Protection Agency] regulations that raise the price of energy so substantially.”

A global oversupply of oil has actually kept prices of the commodity down in recent years, and the Trump administration’s push for gas exports is likely to continue facing a market glut.

Mr Trump’s proposed reforms include expanding and reviving the US’s nuclear energy sector and easing the application process for coal projects.

He has already approved the sale of more American natural gas to South Korea as well as the construction of a new petroleum pipeline to Mexico.

“That'll go right under the wall,” Mr Trump joked, referring to the 74-mile long wall he hopes to build along the US-Mexico border.

Mr Trump also intends to approve two applications to export natural gas from the Lake Charles liquefied natural gas terminal in Louisiana and open up a new offshore oil and gas leasing programme.

“We have so much more [energy] than we ever thought possible...We don't want to let other countries take away our sovereignty and tell us what to do...We will be dominant. We will export American energy all around the globe...Job-killing regulations are being removed...like you've never seen before.”

In pictures: President Donald Trump on tour Show all 39 1 /39 In pictures: President Donald Trump on tour In pictures: President Donald Trump on tour 20 May 2017 US President Donald Trump and Saudi Arabia's King Salman bin Abdulaziz al-Saud arriving for a reception ahead of a banquet at Murabba Palace in Riyadh Getty Images In pictures: President Donald Trump on tour 20 May 2017 US President Donald Trump, accompanied by First Lady Melania Trump, and Saudi Arabia's King Salman bin Abdulaziz al-Saud being welcomed at Murabba Palace in Riyadh Getty Images In pictures: President Donald Trump on tour 20 May 2017 US President Donald J. Trump with King of Saudi Arabia Salman bin Abdulaziz Al Saud during a welcome ceremony with traditional sword dancers at Murabba Palace, in Riyadh, Saudi Arabia EPA In pictures: President Donald Trump on tour 20 May 2017 King of Saudi Arabia Salman bin Abdulaziz Al Saud with US President Donald J. Trump and wife Melania during a welcome ceremony at Murabba Palace, in Riyadh, Saudi Arabia EPA In pictures: President Donald Trump on tour 20 May 2017 US President Donald Trump adjusts the Collar of Abdulaziz Al Saud Medal, after it was bestowed upon him by Saudi Arabia's King Salman bin Abdulaziz Al Saud at the Royal Court in Riyadh, Saudi Arabia Reuters In pictures: President Donald Trump on tour 20 May 2017 Saudi Arabia's King Salman bin Abdulaziz Al Saud presents U.S. President Donald Trump with the Collar of Abdulaziz Al Saud Medal at the Royal Court in Riyadh, Saudi Arabia Reuters In pictures: President Donald Trump on tour 21 May 2017 Palestinians print posters depicting US President Donald Trump in preparations for his planned visit, in the West Bank town of Bethlehem Reuters In pictures: President Donald Trump on tour 21 May 2017 US President Donald Trump accompanied by first lady Melania Trump, his daughter Ivanka Trump and her husband White House senior advisor Jared Kushner, before delivering his remarks to the Arab Islamic American Summit in Riyadh, Saudi Arabia Reuters In pictures: President Donald Trump on tour 21 May 2017 US President Donald Trump looks on as U.S. Secretary of State Rex Tillerson and Saudi Arabia's Crown Prince Muhammad bin Nayef exchange a memorandum of understanding Reuters In pictures: President Donald Trump on tour 21 May 2017 First Lady Melania Trump shares a laugh with a child during a visit to the American International School in the Saudi capital Riyadh Getty Images In pictures: President Donald Trump on tour 21 May 2017 US President Donald Trump holds a bilateral meeting with Bahrain's King Hamad bin Isa Al Khalifa AP In pictures: President Donald Trump on tour 22 May 2017 Israeli soldiers rest during preparations ahead of President Trump's landing in Tel Aviv, Israel Getty Images In pictures: President Donald Trump on tour 22 May 2017 First Lady Melania Trump makes her way to board Air Force One in Riyadh as she heads with her husband the US President to Israel Getty Images In pictures: President Donald Trump on tour 22 May 2017 US President Donald Trump and first lady Melania Trump board Air Force One for Israel, the next stop in Trump's international tour, at King Khalid International Airport AP In pictures: President Donald Trump on tour 22 May 2017 Israeli soldiers wait for the arrival ceremony of US President Donald Trump at Ben Gurion airport near Tel Aviv, Israel AP In pictures: President Donald Trump on tour 22 May 2017 US President Donald Trump and first lady Melania Trump arrive aboard Air Force One at Ben Gurion International Airport in Lod near Tel Aviv, Israel Reuters In pictures: President Donald Trump on tour 22 May 2017 US President Donald Trump and first lady Melania Trump disembark Air Force One on arrival at Ben Gurion International Airport AP In pictures: President Donald Trump on tour 22 May 2017 US President Donald J. Trump and his wife, US First Lady Melania Trump are welcomed by Israeli Prime Minister Benjamin Netanyahu upon arrival at Ben Gurion Airport, in Lod outside Tel Aviv, Israel EPA In pictures: President Donald Trump on tour 22 May 2017 US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu sit during welcome ceremony in Tel Aviv AP In pictures: President Donald Trump on tour 22 May 2017 US First Lady Melania Trump chats wife Sara Netanyahu as US President Donald Trump chats to Israel's Prime Minister Benjamin Netanyahu during a welcoming ceremony to welcome Trump at Ben Gurion International Airport Reuters In pictures: President Donald Trump on tour 22 May 2017 US President Donald Trump delivers a speech upon his arrival at Ben Gurion International Airport in Tel Aviv Getty Images In pictures: President Donald Trump on tour 22 May 2017 US President Donald Trump gestures during a press conference with Israel's President at the President's Residence in Jerusalem Getty Images In pictures: President Donald Trump on tour 22 May 2017 US President Donald Trump watches as First Lady Melania Trump signs the guest book at the President's Residence in Jerusalem Getty Images In pictures: President Donald Trump on tour 22 May 2017 US President Donald Trump walks with first lady Melania Trump in Jerusalem's Old City Reuters In pictures: President Donald Trump on tour 22 May 2017 US President Donald Trump visits the Western Wall, the holiest site where Jews can pray, in Jerusalems Old City Getty Images In pictures: President Donald Trump on tour 22 May 2017 US President Donald Trump stands next to Rabbi Shmuel Rabinowitz at the plaza in front of the Western Wall, Judaism's holiest prayer site, in Jerusalem's Old City Reuters In pictures: President Donald Trump on tour 22 May 2017 US Secretary of State Rex Tillerson and White House senior advisor Jared Kushner leave notes at the Western Wall in Jerusalem Reuters In pictures: President Donald Trump on tour 22 May 2017 US First Lady Melania Trump touches the Western Wall, Judaism's holiest prayer site, in Jerusalem's Old City EPA In pictures: President Donald Trump on tour 22 May 2017 Ivanka Trump, assistant and daughter of US President Donald J. Trump, touches the Western Wall, Judaism's holiest prayer site, in Jerusalem's Old City EPA In pictures: President Donald Trump on tour 22 May 2017 President Donald Trump visits the Western Wall AP In pictures: President Donald Trump on tour 24 May 2017 US President Donald J. Trump arrives in a vehicle to Saint Damaso's Court for a private audience with Pope Francis in Vatican City EPA In pictures: President Donald Trump on tour 24 May 2017 Pope Francis walks past Ivanka Trump and First Lady Melania Trump on the occasion of the private audience with President Donald Trump, at the Vatican AP In pictures: President Donald Trump on tour 24 May 2017 Pope Francis exchanges gifts with US President Donald Trump during a private audience at the Vatican Getty Images In pictures: President Donald Trump on tour 24 May 2017 Pope Francis meets US President Donald Trump and his wife Melania during a private audience at the Vatican Reuters In pictures: President Donald Trump on tour 24 May 2017 Pope Francis with US President Donald J. Trump EPA In pictures: President Donald Trump on tour 24 May 2017 Pope Francis gets into is car after meeting with US President Donald Trump AP In pictures: President Donald Trump on tour 24 May 2017 President Donald Trump and his wife Melania look at the frescoed ceilings during their visit to the Sistine Chapel at the Vatican L'Osservatore Romano/Pool Photo via AP In pictures: President Donald Trump on tour 24 May 2017 US President Donald Trump security vehicles are seen in front of Air Force One before take off from Leonardo da Vinci-Fiumicino Airport in Rome, Italy Reuters In pictures: President Donald Trump on tour 24 May 2017 US President Donald Trump and First Lady Melania Trump wave to reporters before boarding the Air Force One to Brussels, at the end of a 2-day visit to Italy including a meeting with Pope Francis at the Vatican, at Rome's Fiumicino international airport AP

Energy Secretary Rick Perry told reporters at the White House earlier this week that “an energy dominant America means self-reliant.”

“It means a secure nation, free from the geopolitical turmoil of other nations who seek to use energy as an economic weapon,” he said.

As the Trump administration intensifies its focus on natural gas and coal, it seems to be disregarding renewable energy.

Earlier this month, Mr Trump pulled out of the Paris accord, saying that the deal would hit the US coal industry – which he has attributed to helping him get elected – hard and that it would prove “too costly” for the country to stick to the agreement to reduce greenhouse gas emissions.

However, new money in renewable energy outpaced new investments in fossil fuels for the first time in 2015 to the tune of $350bn. Mr Trump’s proposed budget also calls for a nearly 70 percent cut in spending for the Office of Energy Efficiency and Renewable Energy.

During his speech on Thursday, Mr Trump again justified his choice to withdraw the US from the Paris agreement. The decision has drawn criticism from allies around the world.

“Believe me, that REALLY put this country at a disadvantage,” Mr Trump said. “Maybe we'll be back into it someday, but it'll be on fairer terms.”

Meanwhile, German Chancellor Angela Merkel has already set herself up for a showdown between her and Mr Trump over his “America First” agenda, predicting “very difficult” talks about climate change and trade next week when she hosts a summit meeting of 20 global leaders.