“The lawyers are planning on spending their outdoor days with this,” says Hathaway, who now works as director of Good Government, a legal nonprofit dedicated to progressive advocacy.
These new rules are clearly a gift for extraction industries such as drilling and mining. The Sun and Wind Project – The regime repeatedly attacked, Lease withdrawal Offshore wind and ordering Construction stopped Projects already in progress are not listed on the list of projects that are specifically permitted to receive accelerated timelines. But ironically, these orders only contribute to an increasingly uncertain environment for fossil fuel producers under the new Trump administration.
Even before the chaos caused by the Day of Liberation, Big Oil faced the possibility it had with the elected president. The shale oil boom in the early 2010s paid executives for increased production, but the strategy was too much supply, causing prices per barrel to fall during the first Trump administration. After prices fell during the pandemic, investors became more cautious about unbound production.
“It’s not government regulations that limit the US production growth rate. It’s Wall Street,” says Clayton Seigle, a senior fellow at the Center for Strategic and International Studies, a think tank based in Washington, D.C.
The industry was boosted in the early 2020s by the global energy crisis caused by Russia’s invasion of Ukraine, but investors turned their attention to prices carefully. Despite President Joe Biden’s climate focus, the US oil and gas industry It became In 2023, we reached the world’s largest crude oil producer. Record height At the end of last year, it produced 13.4 million barrels per day. The challenge under the Trump administration will balance the president’s goal and profitability to unleash “energy control.” After all, Trump says he hopes that oil will drop to $50 per barrel.
Each quarter is issued by the Federal Reserve Bank of Dallas Regional Report The states of the oil and gas industry in Texas, Louisiana and New Mexico include anonymous survey responses from executives. Vitriol to the White House in these comments from the first survey of the year, published in late March, Shocked analyst.
“The keyword that so far describes 2025 has been “uncertainty,” and as a public company, investors dislike uncertainty,” said one anonymous executive. “This uncertainty is triggered by a contradictory message from the new administration: “US energy domination” and $50 per barrel oil is not possible. These two statements are inconsistent. ”
“The “drill, baby, drill” is nothing more than a mythical and populist mobilisation cry,” writes another.
Trump continues to hand out questionable gifts to industry. Thursday, interior announcement Several changes to policies regarding offshore drilling in the Gulf of Mexico could increase Gulf production by up to 100,000 barrels a day. Meanwhile, the interior is reportedly assembled a list of fossil fuel deposits on public lands that will be opened for production.
