Trump Heads to Republican Stronghold: "We Will Protect US Energy Independence"
Trump Visits West Texas
Expresses Determination to Maintain US as Net Energy Exporter
Texas Becomes Battleground State in GOP Backyard Amid COVID-19
[Asia Economy Reporter Naju-seok] U.S. President Donald Trump visited West Texas to court the oil industry's support. President Trump pledged to maintain America's energy independence.
On the 29th (local time), he visited Double Eagle Energy, toured drilling equipment, and gave a speech titled "Restoring Energy Dominance in the Permian Basin." He stated, "Thanks to the hard work of the oil industry, the United States has become a superpower in the energy sector," and declared, "We will maintain America's energy independence."
The U.S. had been a net importer of crude oil, with demand exceeding domestic production. After the shale revolution enabled increased crude oil production, the country shifted to a net exporter. However, due to the demand drop caused by the COVID-19 pandemic and the resulting plunge in oil prices, domestic crude oil production has decreased, and the U.S. is expected to revert to being a net importer of crude oil.
Regarding this, President Trump said, "It took a long time for the U.S. to become independent in the energy sector," adding, "While I am president, I will not let them weaken the American energy industry by doing whatever they want. We will no longer rely on foreign energy and will maintain energy independence." He pledged to actively support the U.S. oil industry.
Immediately after his speech, President Trump authorized measures such as allowing the export of Texas crude oil to Mexico.
President Trump's visit is interpreted as part of his presidential campaign efforts. Texas has traditionally been a stronghold of the Republican Party, President Trump's party, but recently has become a battleground state due to the impact of COVID-19 and other factors. Through his speech, President Trump highlighted his achievements, including withdrawal from the Paris Climate Agreement and various pro-oil industry support policies.
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The White House National Economic Council also actively promoted how much the U.S. oil industry's competitiveness has been strengthened thanks to the shale revolution and other factors.
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