America's energy crisis leads Trump to revisit Cold War tactics to bolster oil
President Donald Trump of the United States has decided to invoke the Defense Production Act, a Cold War-era law, to provide financial incentives to oil companies and to ramp up oil production and refining. The aim is to strengthen U.S. energy security amidst rising oil prices since the outbreak of the conflict in Iran and the impacts of global crises. This move comes at a time when Trump is facing a decline in public support for the economy, and is seen as an attempt to ensure rapid energy supplies, although no specific projects have been designated for funding yet. The United States is the world's largest oil producer, with an output of approximately 13.6 million barrels per day in 2025.
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