Former President Donald Trump, during a speech in Michigan, pledged to cut energy costs in half within 12 months if re-elected. Analysts, however, remain skeptical, noting that energy prices are largely determined by global market forces beyond presidential control. Experts warn that steep price drops could hurt profitability for oil producers while nuclear power growth remains slow. Although U.S. oil production is at record levels, industry observers caution against oversupply, which could depress prices further.
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00:00It's Benzinga, and here's what's on the block.
00:03Former President Donald Trump, during a speech in Michigan, pledged to cut energy costs in
00:07half within 12 months if re-elected.
00:08Analysts, however, remain skeptical, noting that energy prices are largely determined
00:13by global market forces beyond presidential control.
00:17Experts warn that steep price drops could hurt profitability for oil producers, while
00:21nuclear power growth remains slow.
00:23Although U.S. oil production is at record levels, industry observers caution against
00:27oversupply, which could depress prices further.
00:30For all things money, visit Benzinga.com.