Trump touts energy plans in inaugural address
Published On Jan 20, 2025, 2:41 PM
In his inaugural address, President Trump outlined his administration's energy plans, emphasizing a national energy emergency to boost domestic energy production and combat inflation, which is attributed to high energy prices. He aims to increase drilling and oil and gas production to revitalize American manufacturing and export energy globally. Trump plans to reverse electric vehicle mandates to support the auto industry, claiming this will help revive U.S. manufacturing. He emphasized the need to refill the Strategic Petroleum Reserve and reduce inflation, declaring, "drill, baby, drill."
Stock Forecasts
XOM
Positive
Given Trump's plans to expand domestic energy production and reverse policies favoring electric vehicles, the energy sector, particularly oil and gas exploration and production companies, could see increased investment and profitability. This could lead to a positive outlook for key energy stocks.
TSLA
Negative
Reversing electric vehicle mandates and promoting fossil fuel production could negatively impact electric vehicle manufacturers as they face increased competition and market challenges, affecting their stock prices.
Related News
Trump to declare national energy emergency, unlocking new powers
Jan 19, 2025, 10:35 PM
(Bloomberg) -- President-elect Donald Trump is poised to invoke emergency powers as part of his plan to unleash domestic energy production while seeking to reverse President Joe Biden’s actions to combat climate change, according to people familiar with the matter. Most Read from BloombergHow Sanctuary Cities Are Preparing for Another Showdown With TrumpNYC Commuters Get New Way to Dodge Traffic: $95 Helicopter RidesWhat LA’s Fires Mean for the City’s Housing ShortageDeadly Landslide of Garbage
Trump prepares to unleash a wave of first-day orders on everything from oil drilling to TikTok
Jan 20, 2025, 8:16 AM
Donald Trump and his allies are promising historic activity in the hours after he is sworn in, with a wave of executive orders to be signed this afternoon and more likely to follow in the days afterward.
Stock market today: Dow leads weekly stock market rally ahead of Trump inauguration
Jan 17, 2025, 6:35 PM
Investors are appraising Trump policies' likely impact on stocks on the last trading day before the inauguration.