Trump's Energy Plans: 2 Hot Oil Stocks That Could Soar Over the Next 5 Years
These oil stocks foresee huge growth in business, and Trump's energy plans should act as a catalyst.
One of the first things President Donald Trump did after taking office for his second term was to declare a "national energy emergency" and reverse the energy policies of the previous government. With his "drill, baby, drill" slogan, Trump vowed to boost oil and gas production in the U.S., bring prices down, fill up the strategic petroleum reserve, and export more energy from the U.S.
In short, Trump is pro-oil, and that has put the spotlight back on oil stocks. But there's a catch.
While Trump wants oil and gas companies in the U.S. to increase production, he is targeting lower energy prices driven by higher supply. So while higher production could benefit oil and gas producers, any drop in commodity prices could offset those gains. At the same time, it's hard to predict where oil prices could go, given the many market forces at play, such as the role of OPEC+ and the impact of tariffs.
