Despite president-elect’s vow, energy companies focus on managing resources to be profitable, not pumping more oil
At the Republican national convention in July, Donald Trump pledged to cut gas prices by boosting domestic oil production. “We will drill, baby, drill,” he declared.
Despite the president-elect’s promise, oil and gas companies probably have other ideas. For the past few years, US energy producers have focused on keeping costs down to stay profitable, balancing between producing enough oil to satisfy global energy needs and paying shareholders big dividends, according to energy experts. That’s unlikely to change soon.
About Author
More Stories
Nigeria sues crypto giant Binance for $81.5bn in economic losses and back tax
Xi Jinping tells Alibaba’s Jack Ma and Chinese tech chiefs to ‘show their talent’
iPhone designer still asks: ‘I wonder what Steve Jobs would do?’ – despite being told not to