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International Business Times
International Business Times
Business

Trump Push To 'Drill, Baby, Drill' May Hit Industry Roadblock

United States Donald Trump Oil Darren Woods Stewart Glickman CNBC OPEC
US President Donald Trump seeks to increase US oil production under his administration -- such as at this refinery in Detroit, Michigan -- but he may face challenges outside of his control (Credit: AFP)

President Donald Trump wants to boost US oil production, pledging to bring costs down as he returned to office this week -- but analysts warn his efforts could be hampered by the industry itself.

Taking aim at an "inflation crisis" which he said was driven by rising energy prices, Trump vowed: "Today I will also declare a national energy emergency. We will drill, baby, drill."

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