Former President Donald Trump has promised that if elected, he would make the US energy-dominant globally.
"We're going to get energy way down. Drill, baby, drill," the 2024 Republican presidential nominee said in a Fox News interview.
Expounding on his economic and energy policies, Trump speculated that once energy prices are brought down, it will be easier to curb inflation and manage other outstanding problems. Accordingly, the presidential candidate has every intention of basing his economic policy “very strongly in energy," as he touted the country’s reserves.
"We have more energy — we have more liquid gold, as I call it, under our feet than Saudi Arabia, than Russia, than anybody," Trump stressed.
He added that the US is “going to make a fortune” and become “energy dominant.”
However, Trump’s claims about the US’ energy potential should be taken with a grain of salt. According to data confirmed by energy organizations and corporate geological surveys, the United States ranks 11th in the world by proven oil reserves, with Saudi Arabia and Russia ahead. The US is also outperformed by Venezuela (number one by all accounts), Iran, Iraq, and Libya, as well as by some other nations. Coincidentally, most of the abovementioned states have often been targeted in US foreign policy.