Trump’s ‘energy emergency’ comes amid soaring US oil and gas production

By Mike Soraghan | 01/21/2025 07:03 AM EST

The fossil fuel industry has shown no interest in a big boost to production, but it welcomes plans to roll back environmental regulations.

Donald Trump signs an executive order during an inauguration parade.

President Donald Trump signs an executive order Monday during an inauguration parade at Capital One Arena in Washington. Jamie Kelter Davis for POLITICO

President Donald Trump enters office as U.S. oil and gas production breaks records and gasoline prices hit three-year lows.

But that didn’t stop the new president from declaring a “national energy emergency” Monday evening in a bid to boost fossil fuels.

“We will drill, baby, drill,” Trump said in his inauguration speech, adding, “We will be a rich nation again, and it is that liquid gold under our feet that will help to do it.”

Advertisement

The order is part of the Trump administration’s sweeping plans to “unleash American energy, which includes executive orders to boost energy production in Alaska, freeze funds from the climate and infrastructure laws and get rid of all regulations that “impose undue burdens” on energy production and use.

GET FULL ACCESS