There is no doubt there will be an impact of the second Trump presidency on the energy transition, but it is unlikely to have a lasting or significant shift to the

"Despite the 'energy emergency' claims, the US is producing energy in record quantities," JPMorgan Asset Management wrote.

Oil companies cheered Trump’s recent calls for a more streamlined process and a series of energy-related executive orders he signed this month. The orders declared an “energy emergency,” expanded drilling in the Arctic and repealed Biden’s ban on drilling off the East and West coasts and parts of Alaska.

As the price of oil fluctuates, former President Donald Trump has called on American producers to ramp up production. His famous “drill, baby, drill” slogan from the 2016 campaign still echoes, but industry leaders are not in sync with this call.