American oil companies are distressed as the tariff war has caused the industry to "peak", leading to a decrease in the number of drilling platforms in the largest oil field in the United States.
"The American oil industry has already 'peaked.' According to a report by Fortune magazine on the 6th, American oil producers have stated that the oil industry is struggling under the heavy pressure of the Trump administration's excessive tariffs and falling oil prices, and has begun to decline. This not only may shake the United States position as the world's largest fossil fuel producer, but also threatens the country's energy security. As the trend of economic slowdown spreads to various industries, American oil producers are adjusting their strategies, reducing the number of drilling rigs and cutting costs. During his campaign, Trump often used the slogan 'drill, baby, drill' to show his support for traditional energy sources such as oil and gas. The Canadian "Energy Structure" website reported that on his first day in office, Trump signed executive orders supporting the development of the oil and gas industry. However, after more than 100 days in office, the quarterly financial reports released by American oil companies are not optimistic."
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