CEO of more than 12 oil companies will convey a message of gratitude – but also warning – when they meet with the US President Donald Trump Today (19.3.2025). The leaders of industry oil They say they have many reasons to thank him.
The Republican is an overt advocate of American oil and gas production, who has vowed to release the industry’s potential. Two months after taking up his duties, he has already taken steps to start abolishing policies that have increased operating costs and reduced the demand for fuel.
But for the at least 15 bosses of oil to visit Trump at the White House, there are also warning signs on this path to energy sovereignty.
Energy Minister Chris Wright has set a target for crude oil $ 50 per barrelwhich is too low to maintain some American production. The president has spent days praising the fall of oil prices that came after pushing OPEC+ to increase production and the cartel was obliged.
Meanwhile, the endangered duties of the US president are deploying industry concerns about a possible financial decline, even when they increase the cost of materials used by oil companies to refine gasoline and drilling.
“I suspect that the operators are excited about the new market opportunities,” Trump puts on, said Kevin Bouk, chief executive of Clearview Energy Partners LLC in Washington. But it is also possible to “worry about the opposite winds of demand from a trade war. And, generally speaking, in the oil site, the highest prices go better than the lower ones. ”
The meeting will be the first of its kind after Trump’s second swearing -in and the creation of a new National Council for Energy Sovereignty for Policy. Participants are going to cover the whole range of the industry, including integrated oil companies (Exxon Mobil Corp., Chevron Corp., Shell Plc, BP PLC, Conocophillips, Hess Corp.), Independent Producers (Diamondback Energy Inc. Occidental Petroleum Corp., Continental Resources Inc.), of the Marathon Petroleum Corp. and Phillips 66, a pipeline administrator (ENbridge Inc.) and a Baker Hughes Co.).
Interior Minister Doug Bergam, head of Trump’s energy sovereignty, and Wright, the Minister of Energy, who is the Vice -President of the Commission, are also expected to attend. The meeting is considered as an opportunity to open the contact lines. It is also an opportunity to discuss Trump’s vision of liberating American energy and how this will be achieved, sources say in Bloomberg.
Industry executives are expected to praise Trump’s first moves, including his decision to end a biden -era licensing, which stopped new American gas export licenses abroad.
“President Trump’s energy agenda has put our nation on a path to energy sovereignty,” said Bethany Williams, a spokesman for the American Institute of Petroleum (API). The API, which pioneered the event, has already exhibited parts of its plan to achieve the Trump energy vision with detailed policy recommendations for 10 organizations last December.
A top priority in the oil industry is to simplify the licensing process (that is, to become faster and easier) and to reduce the possibility of a judicial review of federal licenses even years after the issuance of approvals. This could provide more security and confidence for companies, as it will be easier to plan and develop their projects without uncertainties or delays due to legal revisions.
While some changes can be made administratively, they are considered more durable if they pass through Congress and are guaranteed by law. Some oil industry leaders also warn that Trump’s promise to reduce energy prices is not compatible with increasing domestic crude production. And investors have shown little patience for uninterrupted expenses for new drilling.
It is not clear how sympathetic the president is in this dynamic. Last October, while still making a pre -election campaign for the presidency, it boasted that energy prices would fall sharply because oil companies would aggressively increase drilling.
“Let them get themselves drilling from work, I don’t give a damn,” Trump had then said. The president’s leading financial advisers believe that the lowest energy prices are vital to the compensation of any inflationary pressure from the use of his duties to reshape world trade flows.
But Harold Ham, the founder of Continental Resources, who will attend the meeting, told Bloomberg News last week that prices for around $ 80 per barrel were needed to unlock some production.
Yesterday Tuesday (18.3.2025), American Slow West Texas Intermedia (WTI), US reference index closed At $ 66.90, from $ 75.89 on the first full day of Trump at White House this year.