Trump promises ‘liquid gold’ as energy sector braces for trade war

By Brian Dabbs | 03/05/2025 06:28 AM EST

The president’s speech to Congress included renewed pledges to drill for more oil and end the “Green New Scam.”

President Donald Trump departs after delivering an address to a joint session of Congress.

President Donald Trump departs Tuesday after delivering an address to a joint session of Congress in the House chamber of the Capitol in Washington. Francis Chung/POLITICO

President Donald Trump is sticking to his message of drill, baby, drill.

On Tuesday night in his speech before Congress, Trump repeated his usual energy talking points, pledging to boost U.S. fossil fuel production. His remarks come as his administration grapples with high inflation and launches a trade war against Mexico, Canada and China.

“We have more liquid gold under our feet than any nation on Earth and by far, and now I fully authorize the most talented team ever assembled to go and get it,” Trump said. “It’s called: Drill, baby, drill.”

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Six weeks into his second term, Trump has taken a sledgehammer to U.S. climate policy. His administration has blocked offshore wind development, frozen clean energy grants and withdrawn from the Paris climate accord. Trump has also vowed to repeal a laundry list of energy regulations — and signaled he may try to repeal the scientific finding that underpins EPA’s authority to regulate greenhouse gases, the primary cause of climate change.

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