Exxon CEO Skeptical of Trump's Promised Oil Boom

Donald Trump's plan to lower gas prices by boosting US oil production faces challenges due to a well-supplied global market and limited presidential control over oil prices. ExxonMobil CEO Darren Woods and energy analysts highlight that major oil companies prioritize shareholder returns over increasing production, and any production increase would be gradual. While Trump proposes easing regulations and working with OPEC, experts note the delicate balance required to maintain desired oil prices. The US continues to produce record oil levels, but market dynamics and environmental policies complicate Trump's ambitions.