Trump’s ‘Drill, Baby, Drill’ Pledge May Not Deliver Promised Energy Price Cuts, Experts Warn. “It’s mostly just bluster, because the president actually doesn’t have any direct control.” “There is nothing that you could wave your magic wand at and get that kind of an increase in production.”

14 comments

1. It’s not the drilling that is the limitation, it’s the refining capacity. This illusion that there is just a dial on the president’s desk that controls gas prices needs to die. Or, at the very least people need to accept that [fuel prices do not follow presidential administrations](https://afdc.energy.gov/data/10326).

2. And if prices dropped as much as TFG claims he wants, it would be completely unprofitable to produce it by fracking.

3. Obviously

4. Never let the truth get in the way of a good story😈

5. The PRESIDENT doesn’t have *WHAT!!!*

   (Trump’s puppets will never believe this fact.)

6. US oil producers are already producing world-leading all time record amounts. The industry is also making record profits. Does it even want to produce more? And does it have the capacity? And wouldn’t plummeting oil prices just kill the industry’s profits, even if Trump could make that happen, which he can’t?

   He doesn’t think through his lies very carefully. He’s used to the media and his followers not pushing back I guess.

7. Most energy doesn’t come from oil anyway.

8. Under the Biden administration US oil production is the highest it’s been on record.

9. Even worse, he fails to grasp the basic fact that oil companies have no interest in low oil prices. Their business model is driven by maximizing profit, and they have no incentive to invest more resources only to make less money. Any significant increase in supply would cause oil prices to drop rapidly, reducing their margins. This lack of incentive to dramatically boost production and drive prices down is a key reason why these companies are cautious about over-expanding production capacity.

10. In the spring of 2020, Trump brokered a deal with oil producers to form a larger cartel, cut global production, and raise prices. He was very proud of this. Arguably, this had a huge inflationary effect.

11. OPEC will increase drilling as well which will plummet prices and cause smaller oil companies to go under.

12. The US is the worlds largest producer of oil. As noted earlier, oil procucers have no interest in reducing the price of oil.

13. Well that and the fact that we are *already* drilling (and exporting) more, with little effect at the pump. Imagine that

14. It is entirely bluster – There is absolutely nothing more he can do than what is going on now.