'Drill, Baby, Drill': President Trump Declares National Energy Emergency, Promises To Boost US Oil Independenc

Newly inaugurated US President Donald Trump announced on Monday that he would declare a "national energy emergency" to prioritise the nation's self-reliance in oil and gas production and reduce energy costs for American consumers.

"The inflation crisis was caused by massive overspending and escalating energy prices. And that is why today I will also declare a national energy emergency. We will drill, baby, drill," Trump said during his inaugural address at the US Capitol Rotunda after being sworn in as the 47th President.

Photo Credit: AP/PTI

Throughout his campaign, Trump repeatedly used the slogan "drill, baby, drill" and pledged to transform the United States into an energy-independent nation while lowering fuel costs for its citizens.

"America will be a manufacturing nation again, and we will have something that no other manufacturing nation will ever have: the largest amount of oil and gas that any country on Earth has, and we are going to use it," Trump declared.

Trump's plan to declare an energy emergency forms part of a broader agenda to bolster the US oil, gas, and power industries while reversing the initiatives of his predecessor, Joe Biden, aimed at promoting electric vehicle production and reducing reliance on fossil fuels.

When Biden assumed office in 2021, he committed to reducing US dependence on fossil fuels. However, oil and gas production reached record highs in the aftermath of sanctions on Russia following its 2022 invasion of Ukraine.

Trump has pledged to increase oil drilling on public lands, introduce tax incentives for oil, gas, and coal producers, and fast-track approvals for natural gas pipelines.

"Starting on Day 1, I will approve new drilling, new pipelines, new refiners, new power plants, new reactors, and we will slash the red tape," Trump stated in a speech last September, according to NPR.

The Legacy of "Drill, Baby, Drill"

The slogan "drill, baby, drill" is not new to Trump or the Republican Party. It was first coined by Maryland Lieutenant Governor Michael Steele during the 2008 Republican National Convention. Former Alaska Governor Sarah Palin, the Republican vice-presidential nominee in 2008, popularised the phrase further during a vice-presidential debate that year.

Record-Breaking US Oil Production

The United States maintained its position as the global leader in crude oil production for the sixth consecutive year, achieving a record-breaking average of 12.9 million barrels per day (bpd) in 2023, according to the Energy Information Administration (EIA).

In 2023, US oil output averaged 21.91 million bpd. For 2024, the EIA projected oil production to reach an average of 13.23 million bpd, surpassing the 2023 record of 12.93 million bpd. Looking ahead to 2025, the EIA forecasted further growth to 13.53 million bpd, with a slight adjustment from its earlier estimate of 13.54 million bpd.

Globally, the EIA raised its oil output forecast for 2024 to 102.6 million bpd, up from a previous estimate of 102.5 million bpd. For 2025, the forecast increased to 104.7 million bpd from the earlier projection of 104.5 million bpd.