US oil industry eagerly awaits Donald Trump's deregulatory push

Contributing sentiments towards policy:

70% : "Trump showed during his first term he was willing to play an active role in shaping the oil price.
62% : On taking office next January, the industry expects Trump to slash many of the environmental rules imposed by Biden.
56% : "We have more liquid gold than any country in the world -- more than Saudi Arabia," Trump said as he claimed victory early on Wednesday morning.
46% : Trump made energy policy a pillar of his campaign, vowing to slash red tape and unshackle US oil producers to drive up production and bring down prices for consumers.
46% : Trump has already begun to shape the team that will be responsible for making these changes.
44% : One of the most fundamental changes sought by the industry is for Trump, aided by Republican control of the Senate and potentially the House of Representatives, to push through far reaching permitting reform legislation after years of failed attempts.
41% : "Bob McNally, president of consultancy Rapidan Energy and a former energy adviser to the George W Bush administration, said that while "any president has very limited tools to impact the price of oil in the short term" if strong global supply growth outpaces demand in the coming years, Trump "may get lucky and witness a sharp decline in oil prices".
40% : Macroeconomic factors, however, may help Trump keep his promise to bring down prices at the pump: sluggish Chinese demand coupled with Opec+ plans to increase supplies are likely to depress prices in the months ahead.
32% : Trump has vowed to slash corporate tax and unpick Biden's signature climate legislation, the Inflation Reduction Act.
29% : Trump has also vowed to exert maximum pressure on Iran, ramping up sanctions on its oil exports, which could push up the global oil price.
26% : Trump is also predicted to end a pause on new licences for liquefied natural gas terminals.

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