Oil Companies Not Embracing ‘Drill, Baby, Drill’

“President Trump is swinging American energy policy sharply in favor of fossil fuels, but oil and gas companies say those changes won’t push them to engage in the frenzy of new drilling that Mr. Trump wants,” the New York Times reports.

“The oil industry is thrilled by Mr. Trump’s 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 — one of Mr. Trump’s central goals — industry executives say not unless prices rise a lot, something the president says he will not stand for.”