Trump's 'Drill, Baby Drill' Is Bringing Relief For Americans In New Year, Says Doug Burgum: 'We're Going To Unleash American Energy'

Secretary of the Interior Doug Burgum says President Donald Trump's energy policies are delivering real relief to Americans as the new year begins, pointing to record levels of natural gas exports and sweeping deregulatory efforts that have accelerated project approvals nationwide.

Trump’s ‘Drill, Baby Drill’ Is Unleashing American Energy

Burgum said Trump’s “drill, baby drill” catchphrase at his inauguration highlighted the administration’s intention to “unleash American energy” in a way that brings “prosperity to home” and “peace abroad.”

Burgum pointed to a dramatic policy shift under Trump, noting that the U.S. went from having restrictions on LNG exports just a year ago to now becoming the “largest LNG exporter, knocking Russia out of the European market,” while boosting both American jobs and infrastructure investment in the process.

See Also: Oil Falls To $55 And Energy Stocks Suffer Worst Day Since April

On permitting reform, Burgum said the administration has dramatically shortened review timelines through emergency powers declared on Trump's first day in office.

“Environmental assessments [are] done in less than 14 days, environmental impact statements done in less than 28 days,” he said, adding that earlier these processes used to take years. The House-passed SPEED Act now aims to lock in those fast-track provisions by codifying them into law, pending Senate approval in the new year.

Burgum closed by framing the administration’s energy agenda as part of a broader geopolitical strategy. “Russia and Iran want the United States to stop producing energy so they can use it to fund wars and fund terrorism,” he said.

Energy Policy Meets Market Reality

Trump’s energy policies, outlined at the very onset of his second term, have helped provide relief to consumers. However, the same drop in energy prices, with crude oil now hovering around $57.21 per barrel, down 20% YTD, is making it harder for U.S. producers to profitably maintain their output.

Last week, prices had dropped to $55 a barrel, the lowest level in nearly five years, and below the average breakeven price of $61 for U.S. producers.

The United States Oil Fund LP (NYSE:USO), which tracks the West Texas Intermediate Light Sweet Crude Oil, is down 3.39% over the past month and 11.57% YTD.

The stock does poorly in Benzinga’s Edge Stock Rankings, with a low Momentum score and an unfavorable price trend in the short, medium and long terms. Click here for deeper insights into the fund, its peers and competitors.

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