This is a developing story, please check back for updates. (Updated: 1:59 pm, CST)

Donald J. Trump took the oath of office and became the 45th president of the United States today. With the oil and gas industry undoubtably watching with great interest, President Trump delivered a 16-minute inaugural address that was heavy on promises of revitalizing American industry, but void of any direct mentions of energy policy.

Trump's speech evoked many of the themes he spoke about on the campaign trail, focusing on American industry and workers.

"One by one, the factories shuttered and left our shores, with not even a thought about the millions upon millions of American workers left behind," he said.

Wall Street seemed to take exception to protectionst policy talk, giving back gains made earlier in the day in anticipation of the transfer of power. The Dow Jones Industrial Average rose nearly 100 points before the oath was taken. Following Trump's speech, it began to slip back.

"We must protect our borders from the ravages of other countries making our products, stealing our companies and destroying our jobs," Trump said. "Protection will lead to great prosperity and strength."

As far as energy policy, Bloomberg reported that the new president’s advisers have prepared a short list of energy and environmental policy changes that he can take within hours of the inauguration. According to Bloomberg, the list includes “nullifying President Barack Obama’s guidelines that federal agencies weigh climate change when approving pipelines, deciding what areas to open for drilling or taking other major actions.”

The news organization sourced two people familiar with Trump’s transition planning.

Yahoo News reported that Trump's advisers vetted more than 200 potential executive orders for him to consider signing on healthcare, climate policy, immigration, energy and numerous other issues, but it was not clear how many orders he would initially approve, according to a member of the Trump transition team who was not authorized to talk to the press.

Earlier in the day, Harold Hamm, chairman and CEO of ContinentalResources Inc. (NYSE: CLR) and a Trump adviser during the campaign, told CNBC that he believes “getting rid of President Barack Obama-era regulations will be a ‘Day One agenda’ for the Trump administration.

“I think it’ll be immediate,” Hamm said in the CNBC “Squawk on the Street” interview in Washington, D.C., in advance of the inauguration. “[Overregulation] is hurting everybody. It’s not just business. But consumers are also paying for that. So it’s very costly to the American economy.”

Hamm cited methane gas regulation as one that could be in the immediate crosshairs of the administration.

Jack Belcher, executive vice president at HBW Resources and an energy consultant who represents clients on Capitol Hill, said that he thinks there will be executive action to reverse regulations almost immediately.

Speaking on Hart Energy’s Political Sidetrack podcast, Belcher said, “We can expect that there are going to be executive orders that are addressing some of the things that have gone forward in the current administration; withdrawals of federal land is an area where we’re going to see some executive action. We’re going to see some regulatory reversal taking place.

“There’s also the Congressional Review Act that give Congress the ability to go back and strike down or amend some of the executive actions of the [former] administration,” he continued. “I think you’ll see things on Day One.”

Len Vermillion can be reached at lvermillion@hartenergy.com or @LenVermillion