There is no doubt there will be an impact of the second Trump presidency on the energy transition, but it is unlikely to have a lasting or significant shift to the

But industry leaders have also been clear that these and other policy changes floated by Trump won’t lead to more drilling. The US is already producing more crude oil than any country, ever, according to the EIA. Last year’s production rate of 13 million barrels per day was a new record high, surpassing the previous record set in 2023.

US President Donald Trump wants energy producers to drill for more oil. He claims it will lower prices for consumers and tackle inflation. But oil companies have a different set of priorities — and those could send them on a collision course with Trump. Clips from C-Span, Fox, ABC

Oil companies cheered Trump’s recent calls for a more streamlined process and a series of energy-related executive orders he signed this month. The orders declared an “energy emergency,” expanded drilling in the Arctic and repealed Biden’s ban on drilling off the East and West coasts and parts of Alaska.

Oil and gas executives welcomed President Trump’s early moves on energy policy, but many said they did not plan to increase production unless prices rose significantly.

Trump wants US oil producers to ‘drill, baby, drill.' They’re not interested: Report - American oil producers want higher profits, not more crude just now

Wall Street expects U.S. oil and gas companies to keep a lid on spending in 2025 and keep their focus on generating shareholder returns, despite calls by President Donald Trump to "drill, baby, drill.

As the price of oil fluctuates, former President Donald Trump has called on American producers to ramp up production. His famous “drill, baby, drill” slogan from the 2016 campaign still echoes, but industry leaders are not in sync with this call.