Donald Trump has been an ardent supporter of his “Drill, baby, drill” slogan throughout his re-election campaign. As the returning President, Trump promises to make good on his intent to increase domestic oil and gas production in the oil/energy sector by reforming energy permitting and increasing fracking on federal lands. Trump has commented his intent to cut energy bills in half after his first year in office. Trump nominated Chris Wright to head the Department of Energy to increase domestic drilling.
Wright is the CEO of Liberty Energy Inc. (NYSE: LBRT), a hydraulic fracking services provider to the oil and gas industry. If Trump is successful in his attempt to boost domestic oil and gas production, then it should cut the price of oil and natural gas. In doing so, it would benefit certain industries dramatically. Here are three stocks that would benefit from the drop in energy prices due to Trump's "Drill, baby, drill" agenda.
