President Trump won election to his second term promising an “American Energy Dominance” agenda that would stimulate more oil drilling and cut the price of energy in half for consumers. Despite pledges of dramatic regulatory cuts, after his first quarter in office, neither is happening. Drilling is down compared to the first quarter of 2024 and gasoline prices are up, according to data from the Trump Administration. Why is “Drill, Baby, Drill” backfiring? We ask Boston University professor and oil industry expert Robert Kaufmann about the impact of Trump’s tariffs and economic slowdown on the oil industry.
