How much oil can Trump pump?

D onald Trump, a man not renowned for the length of his attention span, likes simple formulas. Scott Bessent, his nominee to be treasury secretary, has one: “3-3-3”. He wants to cut America’s federal budget deficit to 3% of GDP, lift annual economic growth to 3% and boost the country’s oil and gas output by the equivalent of 3m barrels per day (b/d) by 2028, up from 30m in 2024.

Governments that borrow from China must pay more to borrow from others

Chinese citizens go to great lengths to bet

Europe is at the centre of the industry’s growth

Research on the topic is surprisingly nuanced

Deficits look worryingly wide across Europe

A booming compliance industry is causing problems

https://www.economist.com/finance-and-economics/2024/12/09/how-much-oil-can-trump-pump

A source: www.economist.com/finance-and-economics/2024/12/09/how-much-oil-can-trump-pump