Trump Signals 'Drill, Baby, Drill' Policy, Aims to Revive Keystone XL Pipeline

Nov 25, 2024, 11:01 AM

Former President Donald Trump, now President-elect, has signaled a shift towards enhancing domestic oil and gas production. Trump has tasked Doug Burgum, the Governor of North Dakota, with leading the Department of the Interior with a directive to 'drill, baby, drill.' This approach aims to increase drilling on federal lands and offshore areas, reversing policies set by President Biden, who had shut down the Keystone XL Pipeline in 2021. Trump's administration plans to expedite drilling permits, offer more offshore leases for bidding, and revive the Keystone XL Pipeline, which has elicited excitement among former pipeline workers. Additionally, Trump intends to repeal Biden's Clean Power Plan, emphasizing the role of natural gas in the energy sector. He also plans to seek funding from Congress to replenish the Strategic Petroleum Reserve, which was depleted under Biden to manage price spikes caused by the Ukraine crisis and inflation.