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

Benzinga_recent_news12-22 15:12

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...

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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.\nBurgum 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.\nTrump’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. \nLast 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. \nThe 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. \nThe 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.\nRead More: \nPhoto courtesy: Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2593982104","isCrawlerRequest":true}