Trump holds a signed executive order on 'Zero-Based Regulatory Budgeting To Unleash American Energy' in the Oval Office in April
Trump’s energy policy paradox
US consumers are not likely to see gasoline prices fall to Trump’s ‘beautiful number’, at least if the president also wants to encourage more drilling
The Trump administration’s energy policy is as marked by conflicting goals as its tariff policy. It aims for lower gasoline prices, in line with the president’s pre-election promise of bringing them to $1.87/gal. The US is also putting pressure on OPEC to boost output to achieve this goal. Simultaneously, it is asking US oil producers to ramp up output and importers, especially in Europe, to take more US crude. Most energy analysts are of the opinion that ‘drill, baby, drill’ is an empty promise if Trump is interested in low gasoline prices. The US Secretary of Energy, Chris Wright, arrived in Saudi Arabia on 9 April to put further pressure on Saudi Arabia to bring down prices. In addition,
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