Trump Is Sabotaging His ‘Drill, Baby, Drill’ Agenda
Since being sworn in, President Donald Trump has made fossil fuels a central component of his energy agenda. The administration has taken steps to expedite oil production on federal lands, reverse regulations imposed by the Biden administration, and slow down renewable energy projects.
“We have more liquid gold under our feet than any nation on Earth and by far. And now I’ve fully authorized the most talented team ever assembled to go and get it. It’s called drill, baby, drill,” the president told a joint session of Congress this month.
Trump’s affinity for fossil fuels has been met with opposition from a surprising group: American energy producers.
This week, the Federal Reserve Bank of Dallas released its quarterly survey of 130 energy firms in the 11th Federal Reserve District, which includes Texas, northern Louisiana, and southern New Mexico. While the report says that production in the region has increased slightly, it also found that companies are becoming increasingly pessimistic about the year ahead.
“I have never felt more uncertainty about our business in my entire 40-plus-year career,” said one survey respondent. Another respondent called “uncertainty” the “key word to describe 2025,” adding, “There cannot be ‘U.S. energy dominance’ and $50 per barrel oil,” a stated goal of the Trump administration. (The current cost
Article from Reason.com
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