Why “Drill Baby Drill” is Kryptonite to Oil Majors

Energy experts struggling to understand how “Drill Baby Drill” could be an actual policy.

Fox Business:

President-elect Trump’s nominee to serve as Treasury secretary, Scott Bessent, has touted a “3-3-3” economic plan that would seek to reduce budget deficits while boosting growth and energy production.

Bessent discussed the 3-3-3 plan this summer at an event hosted by the Manhattan Institute. He said it would involve cutting the budget deficit to 3% of gross domestic product (GDP) by 2028, the last year of Trump’s second term; boosting GDP growth to 3% through deregulation and other pro-growth policies; and increasing U.S. energy production to the equivalent of an additional 3 million barrels of oil per day.

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