Trump plans to boost fossil fuel production with executives

President Donald Trump will meet with oil industry leaders at the White House on Wednesday. This meeting aims to boost domestic oil production, despite his tariffs affecting crude prices. The oil executives will include members of the American Petroleum Institute's executive committee. Notable attendees may include CEOs from Chevron, ConocoPhillips, and Marathon Petroleum, among others. However, the White House has not confirmed the exact participants. Trump's focus has shifted towards increasing fossil fuel production. He has moved away from the climate policies of the Biden administration. The American Petroleum Institute (API) is urging Trump to expand oil and gas drilling leases on federal lands, ease pipeline permits, and speed up approvals for liquefied natural gas exports. Interior Secretary Doug Burgum recently told energy executives that the administration plans to make drilling on federal lands easier. To support this, Trump has created a National Energy Dominance Council, which Burgum leads. U.S. crude oil prices have dropped about 14% since Trump assumed office. Concerns about a possible recession from his tariffs and OPEC+'s decision to increase production are putting pressure on prices.