https://sputnikglobe.com/20250124/unpacking-trumps-drill-baby-drill-1121486428.html
Unpacking Trump’s ‘Drill, Baby, Drill’
Unpacking Trump’s ‘Drill, Baby, Drill’
Sputnik International
During his presidential campaign, Donald Trump vowed to tap oil reserves in order to cut energy costs and raise more money from the oil industry.
2025-01-24T07:19+0000
2025-01-24T07:19+0000
2025-01-24T07:23+0000
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Putting oil prices down by OPEC means more production in the market, which could benefit the US, Marc Ayoub, a Lebanese energy policy researcher and non-resident fellow at the Tahir Institute for Middle East Policy, told Sputnik.After entering office, new US President Donald Trump stressed that his administration will prioritize oil extraction in line with the "drill, baby, drill" formula, one of the key factors in Trump’s policy.There’s also a nuance regarding Russia’s current oil exports to Asian countries. If global oil prices start to plummet, "those players who are buying Russian oil will have no benefits in purchasing it," the analyst concluded.Speaking at the 2025 World Economic Forum in Davos, Trump in particular said he would ask Saudi Arabia and other OPEC nations to "bring down the cost of oil." Apart from Saudi Arabia, OPEC comprises Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, the United Arab Emirates, and Venezuel
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opec nations, new us president donald trump, oil prices, trump's "drill, baby, drill" formula, us inflation
opec nations, new us president donald trump, oil prices, trump's "drill, baby, drill" formula, us inflation
Unpacking Trump’s ‘Drill, Baby, Drill’
07:19 GMT 24.01.2025 (Updated: 07:23 GMT 24.01.2025) During his presidential campaign, Donald Trump vowed to tap oil reserves in order to cut energy costs and raise more money from the oil industry.
Putting oil prices down by
OPEC means more production in the market, which could benefit the US,
Marc Ayoub, a Lebanese energy policy researcher and non-resident fellow at the Tahir Institute for Middle East Policy, told Sputnik.
After entering office, new US President Donald Trump stressed that his administration will prioritize oil extraction in line with the
"drill, baby, drill" formula, one of the key factors in Trump’s policy.
"Flooding the market with barrels of oil both from the United States and OPEC will have a reflection on the US economy in terms of less inflation [in America] and more public and private revenues," Ayoub pointed out.
There’s also a nuance regarding Russia’s current oil exports to Asian countries. If global oil prices start to plummet, "those players who are buying Russian oil will have no benefits in purchasing it," the analyst concluded.
Speaking at the 2025 World Economic Forum in
Davos, Trump in particular said he would ask Saudi Arabia and other OPEC nations to "bring down the cost of oil." Apart from Saudi Arabia, OPEC comprises Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, the United Arab Emirates, and Venezuel
