Coral Davenport

And American automakers really want to get in that market and compete. They want to be selling their EVs to China. And so, interestingly, as much as they really don't like tough regulations, the automakers have been going to Trump and saying, look, please don't do this. Don't ratchet this all the way back. The market is already transitioning. Like, the horse is out of the barn.

Probably not the best metaphor, but like, I don't know, the electric car is out of the garage, whatever, like it's happening. And the U.S. auto industry needs the government to help push it along in the same direction as the rest of the global market, because if it doesn't, it's not going to be able to compete.

Probably not the best metaphor, but like, I don't know, the electric car is out of the garage, whatever, like it's happening. And the U.S. auto industry needs the government to help push it along in the same direction as the rest of the global market, because if it doesn't, it's not going to be able to compete.

Well, in terms of the policies that he would follow, this is one where he really does have a ton of executive authority. The executive branch can open up a lot of federal land and waters for more drilling. They can streamline and ease a lot of the regulatory requirements. And to be clear, the oil companies are delighted with this. They love it. They want to have all that access.

Well, in terms of the policies that he would follow, this is one where he really does have a ton of executive authority. The executive branch can open up a lot of federal land and waters for more drilling. They can streamline and ease a lot of the regulatory requirements. And to be clear, the oil companies are delighted with this. They love it. They want to have all that access.

Here's what they don't necessarily want to do. They don't necessarily want to do a whole bunch of new drilling now. Why is that? Yeah, so that's like sort of the thing that Trump has been calling for. Unleash, unleash, drill, baby, drill, etc. With a lot more production online, prices go down. That's not really what the companies want. They would like to keep prices in a nice medium range.

Here's what they don't necessarily want to do. They don't necessarily want to do a whole bunch of new drilling now. Why is that? Yeah, so that's like sort of the thing that Trump has been calling for. Unleash, unleash, drill, baby, drill, etc. With a lot more production online, prices go down. That's not really what the companies want. They would like to keep prices in a nice medium range.

And here's the other thing is like Trump can't direct publicly traded companies what to do in this space. They are going to respond to the market. There is not a button or a lever that Trump can press to cause more drilling to take place. The United States is not a petro state. They're not Russia or Saudi that can sort of flick a switch at the government level. Exactly.

And here's the other thing is like Trump can't direct publicly traded companies what to do in this space. They are going to respond to the market. There is not a button or a lever that Trump can press to cause more drilling to take place. The United States is not a petro state. They're not Russia or Saudi that can sort of flick a switch at the government level. Exactly.

But Petro State can do that. The United States can't. And so what we hear from companies is love all this, but like, are we going to start drilling a whole bunch more right now? No.

But Petro State can do that. The United States can't. And so what we hear from companies is love all this, but like, are we going to start drilling a whole bunch more right now? No.

Well, there is one policy lever that the executive branch has that really is seen as effective in lowering prices, and that is aggressively reducing consumption. But the policies that reduce oil consumption are... switching to EVs and, you know, switching to energy-efficient appliances. Like, the less demand there is, the more supply there is, the lower prices.

Well, there is one policy lever that the executive branch has that really is seen as effective in lowering prices, and that is aggressively reducing consumption. But the policies that reduce oil consumption are... switching to EVs and, you know, switching to energy-efficient appliances. Like, the less demand there is, the more supply there is, the lower prices.

But that is the exact opposite of what he is doing. And so getting back to these day one orders, it's not just about, like, putting the brakes on EVs. Like, they specifically mention rolling back appliance efficiency standards for things like washers and dryers and gas stoves and light bulbs. Like, all... these measures that were actually put in place in the 70s so that the U.S.

But that is the exact opposite of what he is doing. And so getting back to these day one orders, it's not just about, like, putting the brakes on EVs. Like, they specifically mention rolling back appliance efficiency standards for things like washers and dryers and gas stoves and light bulbs. Like, all... these measures that were actually put in place in the 70s so that the U.S.

would consume less fossil fuel and be less reliant on fossil fuel and prices would go down.

would consume less fossil fuel and be less reliant on fossil fuel and prices would go down.

Exactly.

Exactly.

Well, there's two pieces to that. If the question is kind of what's at stake, you know, what all of these policies are about fundamentally is how much fossil fuel emissions will be produced by the world's largest economy. That's really important because scientists have told us that the world's major economies have until 2030 declined.