Why Trump’s ‘drill, baby, drill’ pledge may not actually lower US gas prices
Despite president-elect’s vow, energy companies focus on managing resources to be profitable, not pumping more oilAt the Republican national convention in July, Donald Trump pledged to cut gas prices by boosting domestic oil production. “We will drill, baby, drill,” he declared.Despite the president-elect’s promise, oil and gas companies probably have other ideas. For the past few years, US energy producers have focused on keeping costs down to stay profitable, balancing between producing enough oil to satisfy global energy needs and paying shareholders big dividends, according to energy experts. That’s unlikely to change soon. Continue reading...
Despite president-elect’s vow, energy companies focus on managing resources to be profitable, not pumping more oil
At the Republican national convention in July, Donald Trump pledged to cut gas prices by boosting domestic oil production. “We will drill, baby, drill,” he declared.
Despite the president-elect’s promise, oil and gas companies probably have other ideas. For the past few years, US energy producers have focused on keeping costs down to stay profitable, balancing between producing enough oil to satisfy global energy needs and paying shareholders big dividends, according to energy experts. That’s unlikely to change soon. Continue reading...
