{"id":20880,"date":"2025-01-27T16:57:49","date_gmt":"2025-01-27T17:57:49","guid":{"rendered":"http:\/\/medexperts.pro\/?p=20880"},"modified":"2025-01-27T18:33:51","modified_gmt":"2025-01-27T18:33:51","slug":"oil-companies-embrace-trump-but-not-drill-baby-drill","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=20880","title":{"rendered":"Oil Companies Embrace Trump, but Not \u2018Drill, Baby, Drill\u2019"},"content":{"rendered":"
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Oil and gas executives welcomed President Trump\u2019s early moves on energy policy, but many said they did not plan to increase production unless prices rose significantly.<\/p>\n

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President Trump is swinging American energy policy sharply in favor of fossil fuels, but oil and gas companies say those changes won\u2019t push them to engage in the frenzy of new drilling that Mr. Trump wants.<\/p>\n

The oil industry is thrilled by Mr. Trump\u2019s executive orders, which are designed to make life harder for renewable energy companies and easier for oil, gas and pipeline businesses. But on the critical question of whether his policies will lead to more oil and gas production \u2014 one of Mr. Trump\u2019s central goals \u2014 industry executives say not unless prices rise a lot, something the president says he will not stand for.<\/p>\n

Mr. Trump\u2019s aim is to support oil and gas by loosening the rules that govern extracting, transporting and exporting fuels while kneecapping the competition, including wind turbines, electric vehicles and other low-emissions technologies. That\u2019s a powerful market signal, but not enough for companies to \u201cdrill, baby, drill.\u201d<\/p>\n

\u201cWhat you are seeing is a huge amount of positivity,\u201d said Ron Gusek, president of Liberty Energy, an oil field services company whose chief executive was picked by Mr. Trump to lead the Energy Department. \u201cBut it\u2019s too early to say that that\u2019s going to translate into a change in actual activity levels here in North America.\u201d<\/p>\n<\/div>\n<\/div>\n

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For drilling and fracking to pick up substantially, oil and natural gas prices would have to rise, executives say, an outcome that is at odds with Mr. Trump\u2019s goal of stemming inflation by reducing the cost of energy. Oil companies won\u2019t spend money on production, which is already near record levels in the United States, if they are not confident that they can make money from the extra fuel they churn out.<\/p>\n

Further complicating the president\u2019s efforts to increase domestic production is that the industry generally is more focused on keeping spending in check than it was during his first term. Wall Street firms used to invest in fracking companies that grew quickly. Now, investors want to back profitable operators.<\/p>\n

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Oil and gas executives welcomed President Trump\u2019s early moves on energy policy, but many said they did not plan to increase production unless prices rose significantly.President Trump is swinging American energy policy sharply in favor of fossil fuels, but oil and gas companies say those changes won\u2019t push them to engage in the frenzy of new drilling that Mr. Trump wants.The oil industry is thrilled by Mr. Trump\u2019s executive orders, which are designed to make life harder for renewable energy companies and easier for oil, gas and pipeline businesses. But on the critical question of whether his policies will lead to more oil and gas production \u2014 one of Mr. Trump\u2019s central goals \u2014 industry executives say not unless prices rise a lot, something the president says he will not stand for.Mr. Trump\u2019s aim is to support oil and gas by loosening the rules that govern extracting, transporting and exporting fuels while kneecapping the competition, including wind turbines, electric vehicles and other low-emissions technologies. That\u2019s a powerful market signal, but not enough for companies to \u201cdrill, baby, drill.\u201d\u201cWhat you are seeing is a huge amount of positivity,\u201d said Ron Gusek, president of Liberty Energy, an oil field services company whose chief executive was picked by Mr. Trump to lead the Energy Department. \u201cBut it\u2019s too early to say that that\u2019s going to translate into a change in actual activity levels here in North America.\u201dFor drilling and fracking to pick up substantially, oil and natural gas prices would have to rise, executives say, an outcome that is at odds with Mr. Trump\u2019s goal of stemming inflation by reducing the cost of energy. Oil companies won\u2019t spend money on production, which is already near record levels in the United States, if they are not confident that they can make money from the extra fuel they churn out.Further complicating the president\u2019s efforts to increase domestic production is that the industry generally is more focused on keeping spending in check than it was during his first term. Wall Street firms used to invest in fracking companies that grew quickly. Now, investors want to back profitable operators.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":20882,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-20880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/20880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20880"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/20880\/revisions"}],"predecessor-version":[{"id":20883,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/20880\/revisions\/20883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/20882"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}