Letter from the US: Trump and $1 gasoline
The oil and gas industry will replace its capital discipline with Trump compliance and consumers will benefit from lower gasoline prices
The incoming Trump administration wants low gasoline prices. The data makes clear that the high fuel prices of 2023 and early 2024 contributed to the president-elect’s victory, and a return of high prices in 2025 and 2026 could lead to significant Democratic gains in the midterm elections. Trump will try to prevent this by granting the oil industry’s wishes for less regulation and more leasing and then demanding large output increases to hold down prices. The 3:3:3:1 Plan The incoming president’s nominee for secretary of the treasury, Scott Bessent, has announced his ‘3:3:3 plan’. This entails increasing growth to 3%, cutting the budget deficit to 3% of GDP and raising US energy production b
Also in this section
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
8 January 2026
The next five years will be critical for the North Sea, and it will be policy not geology that will decide the basin’s future
