Trump claimed at a Michigan rally that reducing heating, air conditioning, and fuel costs could be achieved by increasing fossil fuel supply, declaring a 'national emergency'.
Joseph Majkut from CSIS remarked that a single executive action is unlikely to significantly alter global energy prices without major economic impact, like a recession.
He added that while the U.S. has influence as a significant oil and gas producer, its ability to sway global prices is limited due to larger geopolitical factors.
Majkut highlighted that projects like new pipelines or refineries need years to develop and that many producers prioritize profit over increased production.
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