‘Energy Dominance’ Likely To Run Into Real-world Limits

November 30, 2024 4:19 am

WASHINGTON (AP) — Donald Trump is creating a National Energy Council that he says will establish U.S. “energy dominance” around the world. It will be key in Trump’s pledge to sell more oil to allies and his intent to move away from President Joe Biden’s focus on climate change. But the president-elect’s energy wishes are likely to run into real-world limits. For one, U.S. oil production under Biden is already at record levels. And Trump’s bid to boost oil supplies and lower U.S. prices is complicated by his threat to impose 25% import tariffs on Canada and Mexico, two of the largest sources of U.S. oil imports.