You’re kidding…
This was obvious before the eleciton but Trump’s promise was such music to people’s ears that I guess eveyrone decided to just let his stupid demagoguery hang out there unrefuted:
U.S. oil and gas producers are unlikely to radically increase production under president-elect Donald Trump as companies remain focused on capital discipline, a senior executive at Exxon Mobil (XOM.N), opens new tab said on Tuesday.
“We’re not going to see anybody in ‘drill, baby, drill’ mode,” Liam Mallon, head of Exxon’s upstream division, told the Energy Intelligence Forum conference in London.
“A radical change (in production) is unlikely because the vast majority, if not everybody, is focused on the economics of what they’re doing,” he said.
What he means by “focused on the economics” is that there is a thing called “supply and demand” and they aren’t going to boost production to lower the price and cut into their profits. It’s ridiculous and always was.