Why Trump’s ‘drill, baby, drill’ pledge may not actually lower US gas prices
Why Trump’s ‘drill, baby, drill’ pledge may not actually lower US gas prices
www.theguardian.com Why Trump’s ‘drill, baby, drill’ pledge may not actually lower US gas prices
Despite president-elect’s vow, energy companies focus on managing resources to be profitable, not pumping more oil
Summary
Despite Trump’s pledge to lower gas prices by increasing oil production, energy companies prioritize profitability over pumping more oil.
US oil and gas companies have excess capacity and are focused on managing resources efficiently.
Even if oil producers increase production, refiners have limited capacity to process shale oil into gasoline, potentially increasing prices.
2
comments
It's not about lowering gas prices, it is about raising gas profits.
The main reason is that they aren't high.