US oil executives are eagerly awaiting Donald Trump’s expected rollback of environmental regulations, but despite the president’s pledge to “drill, baby, drill”, production is unlikely to increase significantly during his second term in office.
Trump made energy policy a pillar of his campaign, vowing to slash red tape and unshackle US oil producers to drive up production and bring down prices for consumers.
“We have more liquid gold than any country in the world — more than Saudi Arabia,” Trump said as he claimed victory early on Wednesday morning.
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