President Donald Trump touts energy plans in inaugural address

President Trump In his inaugural address to the nation on Monday, he outlined his administration’s plans to take action to support the energy industry and reduce inflation.

“I will direct all members of my Cabinet to muster the enormous powers at their disposal to overcome record inflation and rapidly lower costs and prices,” Trump said in his speech.

Trump pointed upwards energy prices as one of the key drivers of the inflationary cycle that has seen prices in the U.S. economy rise by nearly 20% over the past four years.He said he plans to declare a national energy emergency to facilitate more domestic production.

“The inflation crisis is caused by the huge overspending of energy sources and the increase in energy prices. And for that, I will also declare a national energy emergency. We will drill, baby, we will drill,” he said.

PRESIDENT DONALD J. TRUMP, VICE PRESIDENT J.

Vice President J.D. Vance and President Donald Trump acknowledge the crowd after Trump’s inauguration as the 47th president on Jan. 20, 2025, in the Capitol Rotunda. (via Kenny Holston/The New York Times/AFP Getty Images/Getty Images)

Trump went on to say that America’s energy resources will help boost domestic manufacturing industry while helping lower prices and enabling the US to replenish the Strategic Petroleum Reserve (SPR) as planned.

“America will be a manufacturing nation again, and we have something that no other manufacturing nation will ever have: the largest amount of oil and gas of any country on earth. And we’re going to use it,” Trump said.

“We will lower prices, replenish our strategic reserves and export American energy around the world,” he said. “We are going to be a rich nation again, and the liquid gold under our feet will help make that happen.”

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Vice President-elect JD Vance and President Trump during the inauguration in the Rotunda of the US Capitol on January 20, 2025. (Kevin LaMarque/Pool/AFP via Getty Images/Getty Images)

Data from the Energy Information Administration (EIA) showed that cuts in recent years have left the SPR the lowest level since 1983. When Trump began his first term in 2017, there were 695 million barrels in the SPR, and it contained 637 million barrels when Biden took office four years later in 2021.

The Biden administration has authorized history publications from SPR trying to contain high prices for consumers as inflation soared and global energy markets were disrupted by Russia’s incursion as well as conflict in the Middle East, leading SPR to a 40-year low of around 347 million barrels in the summer of 2025 As of now, SPR had 394 million barrels of oil in its reserves.

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Jeff Bezos, Donald Trump Jr., Sundar Pichai, Elon Musk, Usha Vance, Doug Burgum and Vice President J.K. (via Kenny Holston/Pool Reuters/Reuters Photos)

The US has emerged as a major energy exporter in recent years and has led the world export of liquefied natural gas (LNG). in 2023 and retain that title in 2024.

Trump also said his administration would roll back former President Biden’s electric car mandate to support the auto industry and its workers, whom he thanked for their support in the November election.

“With my actions today, we will end the Green New Deal and repeal it electric car mandatesaving our auto industry and keeping my sacred pledge to our great American auto workers.” Trump said:

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“That is, you will be able to buy the car of your choice, we will go build cars America again at a pace that no one could have dreamed possible just a few years ago, and thank you to our nation’s auto workers for your inspiring vote of confidence, we did tremendous with their vote,” he added.