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Trump promised a drilling boom, but US energy industry hasn’t been interested | Exec: “Liberation Day chaos and tariff antics have harmed the domestic energy industry."
Exec: “Liberation Day chaos and tariff antics have harmed the domestic energy industry.”…
Within the US, a boom in energy demand driven by rapid electrification and AI-serving data centers is boosting power costs for homes and businesses, yet fossil fuel producers are not rushing to ramp up drilling. That’s before you account for the fallout of elevated tariffs on steel and other imports for the many companies that get their pipes and drilling equipment from overseas, said Robert Rapier, editor-in-chief of Shale Magazine, who has two decades of experience as a chemical engineer. The Federal Reserve Bank of Dallas’ quarterly survey of over 130 oil and gas producers based in Texas, Louisiana, and New Mexico, conducted in June, suggests the industry’s outlook is pessimistic.
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