US energy dominance declines

The energy dominance strategy adopted by the Trump administration faced clear challenges, as it failed to control the rise in gas prices, which exceeded $4 per gallon, while U.S. debt surpassed $40 trillion. The shift of America to become a major oil producer since 2020 is attributed to the shale oil boom, but regional tensions and attacks on refineries led to increased global prices, prompting the United States to take emergency measures such as drawing from the Strategic Petroleum Reserve and easing regulations. On the other hand, China demonstrated resilience by managing its stockpiles and increasingly relying on electric vehicles, which helped reduce demand for fuel by 1.5 million barrels per day in the second quarter. U.S. policies criticized for neglecting conservation and depleting reserves, in contrast to past policies that improved fuel efficiency.

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