U.S. firms were pumping oil at a historic pace as President Trump’s second term began. The President then signed executive orders to speed up permitting and reduce environmental regulations. The goal is to increase domestic oil supply. But analysts say that oil price trends imply that energy producers may soon slow down their capital spending. As profit margins for U.S. oil tread close to their breakeven point, some drillers could choose not to pump more.
Chapters:
0:00 Cold Open
01:15 Chapter 1: Oil and the cost-of-living
04:25 Chapter 2: Leases and permits
07:01 Chapter 3: Exports and imports
Produced by: Carlos Waters
Edited by: Andrea Miller
Senior Director of Video: Lindsey Jacobson
Graphics: Jason Reginato
Additional footage: Getty Images, White House
Additional sources: Bureau of Ocean Energy Management, ConocoPhillips, Council on Foreign Relations, Federal Reserve, Fuel Logic, Independent Petroleum Association of America, Nikkei Asia, USAFacts, U.S. Department of Energy
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What’s Stopping The U.S. From Pumping More Oil?
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