Trump’s Energy Promises: A Year of Mixed Results

One year into President Donald Trump's administration, his commitment to cut energy bills in half has yielded mixed results. While gasoline prices have decreased by approximately 20%, electricity costs have continued to rise, leading to increased financial strain on many American households. The national average for gasoline is down, attributed in part to a global oversupply of oil driven by the OPEC+ cartel, which has increased production to capture market share. Analysts estimate that U.S. households saved an average of $177 on gasoline in 2025 compared to the previous year.

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Despite the promise to "Drill, baby, drill," the number of active drilling rigs in the U.S. has decreased by over 6% year-over-year. This decline occurs even as the Trump administration has made efforts to facilitate new drilling projects by expanding access to federal lands and waters. The current low oil prices, under $60 a barrel, have made it economically unviable for companies to invest in new wells. Secretary of Energy Chris Wright noted that Trump's push for lower oil prices has not aligned with the interests of the oil industry, which prefers higher prices for profitability.

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Electricity prices have been on the rise, with significant increases reported in regions such as New York and New England, where wholesale prices surged by over 60%. Factors contributing to this trend include an aging power grid, the impact of natural disasters, and rising natural gas prices, which have increased by over 50% from the previous year. The Trump administration's policies have not focused on addressing these issues, instead prioritizing the rollback of Biden-era climate initiatives and extending the operational life of coal-powered plants, which are costly to run.

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Critics argue that the Trump administration's energy policies have not effectively addressed the underlying issues driving up electricity costs. The cancellation of federal tax credits for renewable energy projects and the halt of funding for green initiatives have raised concerns among business groups and environmental advocates alike. James Coleman from the American Enterprise Institute emphasized that removing barriers to energy investment is crucial for reducing prices, while the current administration's actions have created uncertainty that discourages investment in new energy sources.

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Looking ahead, the administration's focus on nuclear power and the potential for increased energy production from data centers could offer long-term solutions to rising costs. However, immediate relief for consumers remains uncertain. The Trump administration's pledge to cut utility bills has not been realized, leaving many Americans struggling to manage their energy expenses.

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• “I think if we look at oil down 20% in 2025, that you have to say that political dynamics drove at least half of that,” — Dan Pickering, Chief Investment Officer, Pickering Energy Partners

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• “he's driven down the price of oil.” — Chris Wright, Secretary of Energy

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• “As a general matter, the thing that you can do that most clearly helps reduce prices is to remove barriers to new energy investment,” — James Coleman, Nonresident Senior Fellow, American Enterprise Institute

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• “There are solutions that are available today that can be put on the grid that would meaningfully resolve a lot of these solutions,” — Charles Hua, Powerlines

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In summary, while some aspects of Trump's energy policy have led to lower gasoline prices, the overall impact on electricity costs and energy investment has raised significant concerns among experts and consumers alike.

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