“Lawyers will have a day on the ground with this,” explains Hathaway, who is now working as lawyers for good government, a legal non -profit organization dedicated to progressive advocacy.
It is clear that these new rules are exclusively a gift to extract industries such as drilling and mining. Solar and wind projects – which the administration has attacked several times, Retraction of leases for the offshore wind and order a Construction stop On projects already underway – are notably absent from the list of projects authorized to undergo accelerated deadlines. But ironically, these orders only contribute to an increasingly uncertain environment for producers of fossil fuel under the new Trump administration.
Even before the chaos caused by the Liberation Day, Big Oil faced a potential calculation with the president whom he helped to elect. While the shale oil boom at the beginning of the 2010s rewarded executives for increased production, this strategy led to too much offer, which led prices by barrel to lower during the first Trump administration. After the prices overwhelmed during the pandemic, investors paid more attention to without restrictions.
“It is not a government regulation that limits the growth rate of production in the United States. It’s Wall Street, ”explains Clayton Seigle, principal researcher at the Center for Strategic and International Studies, a Washington -based reflection group, DC.
The industry had a boost in the early 2020s with the global energy crisis caused by the invasion of Ukraine by Russia, but investors have kept a cautious eye on prices. Despite the climate concentration of President Joe Biden, the US oil and gas industry became The largest raw oil producer in the world in 2023 and reached a record to produce 13.4 million barrels per day at the end of last year. The challenge under the Trump administration would balance profitability with the president’s objective to release “energy domination”. Trump, after all, said he wanted oil to fall at $ 50 a barrel – a price far too low to be profitable for the industry.
Each quarter, the Federal Reserve Bank of Dallas publishes a regional report On the state of the oil and gas industry in Texas, Louisiana and New Mexico, which includes anonymous responses to the leaders’ investigation. The vitriol to the White House in these comments from this year’s first survey, published at the end of March, Shocked analysts.
“The keyword to describe 2025 so far is” uncertainty “and as a public company, our investors hate uncertainty,” said an anonymous framework. “This uncertainty is caused by contradictory messages from the new administration. There can be no “domination of American energy” and $ 50 per petroleum; These two declarations are contradictory. “
“‘Drill, baby, forest’ is nothing less than a myth and a populist rallying cry,” wrote another.
Trump continued to distribute questionable donations to industry. Thursday, interior announcement that he had changed certain policies concerning offshore drilling in the Gulf of Mexico which could, according to the agency, increase production in the Gulf up to 100,000 barrels per day. Meanwhile, Interior would also have established a list of deposits of fossil fuels on public lands that it plans to open up to production.
