Gas prices across the United States have plummeted to their lowest levels in years, with many states seeing prices dip below $3 per gallon. Officials predict that prices could eventually fall to as low as $2 per gallon. Secretary of the Interior Doug Burgum attributed the drop to several factors, including the reversal of Biden-era regulations that had restricted access to public lands for oil and gas production.
“The big thing, of course, that Biden did was basically try to shut down access to public lands,” Burgum said. He explained that the previous administration’s policies had discouraged investment and drilling, raising production costs. In contrast, the Trump administration has opened up public lands, such as the National Petroleum Reserve in Alaska, for energy production, leading to record oil and gas production and exports.
Burgum noted that some states, such as California, continue to experience high gas prices due to their policies. “California is importing 63% of their energy from foreign countries,” he said, highlighting the state’s reliance on imported oil and gas.
President Trump recently announced a new plan for oil drilling off the coasts of California and Florida, a move that has faced opposition from Democrats and environmentalists. Burgum clarified that there would be no drilling within 100 miles of Florida’s coast and emphasized the importance of utilizing domestic resources to lower consumer prices and create jobs.
The Strategic Petroleum Reserve, depleted during the Biden administration, is also set to be refilled under Trump’s policies. “Plans are underway to start refilling ours,” Burgum said, stressing the importance of energy security.
Additionally, Burgum discussed the U.S.’s efforts to supply liquefied natural gas (LNG) to Europe, reducing the continent’s reliance on Russian gas. “We have an opportunity to displace 100% of Russian gas in Europe by 2027,” he said, describing the initiative as a “prosperity corridor” that could enhance global peace and economic freedom.
