US Oil Companies Unlikely to ‘Drill, Baby, Drill’ Under Trump, Exxon Executive Says

Trump had vowed throughout his presidential campaign to allow energy companies to drill more for oil and gas to boost output and lower prices for consumers.
US Oil Companies Unlikely to ‘Drill, Baby, Drill’ Under Trump, Exxon Executive Says
An oil pumpjack is shown near the Callon Petroleum vicinity in Monahans, Texas on March 27, 2024. Brandon Bell/Getty Images
Jack Phillips
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Despite President-elect Donald Trump’s vow to drill more for oil and gas, an executive with oil giant Exxon said that petroleum producers are unlikely to radically increase production as companies remained focused on capital discipline.

“We’re not going to see anybody in ‘drill, baby, drill’ mode,” Liam Mallon, head of Exxon’s upstream division, told the Energy Intelligence Forum conference in London on Tuesday, quoting Trump’s election promise to expand drilling once in office. “A radical change [in production] is unlikely because the vast majority, if not everybody, is focused on the economics of what they’re doing.”

Jack Phillips
Jack Phillips
Breaking News Reporter
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
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