Trump’s contradictory stance on oil

With the advent of the second Trump era last Monday, uncertainty has engulfed the world on various fronts. And the world of energy is no exception. Within a week of taking the oath of office, President Donald Trump has rattled the energy markets. Moving on his campaign mantra, ‘Drill, baby, drill,’ on his first day in office, he signed an executive order promising to “unleash America’s affordable and reliable energy and natural resources” by expanding drilling on federal lands and the processing and refining of raw materials, including critical minerals. He also declared a “national energy emergency” to fast-track energy projects. “We have more oil and gas than anybody,” he said, referring to it as “liquid gold under our feet”. He now wants the oil majors to unearth them and at full speed.