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
29 January 2026
Caught between LNG risks from across the Atlantic and the wounds from Russian gas dependence, Europe needs more than a simple diversification strategy
28 January 2026
The alliance looks to bolster market management credibility by bringing greater clarity and unity to output cuts and producer capacity later in 2026
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
