Trump Promises to Cut Energy Prices in Half

August 15, 2024

The past four years have been turbulent for the energy sector. This administration has halted American liquified natural gas (LNG), canceled the Keystone pipeline, blocked mining in Alaska, and much more, all of which have led to high inflation and energy prices. Now, presidential candidate Donald Trump is promising to bring energy prices down.

Speaking to a crowd in Asheville, North Carolina, this week, Trump had the following to say, 

“I’m announcing that under my leadership the United States will commit to the ambitious goal of slashing energy, electricity, prices by half, at least half, within 12 months and a maximum 18 months,” Trump said. “No matter what business you’re in, you have to heat your business, cool your business. You need cars, trucks to get there and take the product. It’s so dominate. My administration will issue approvals for new energy infrastructure, unlock new lands for drilling and achieve energy independence and energy dominance. We were energy-independent four years ago. Think of it: Today, we’re getting energy from Venezuela in the form of tar.”

According to Forbes, Americans spend an average of $429.33 per month on utilities. That equates to spending about $5,151.96 per year on utilities, or 10% of their yearly income. If Trump’s promise comes to fruition, American families could get back upwards of $2,500. This is a welcomed relief as inflation has driven up credit card debt among American families. This is an important reminder that in 2024, Energy Is On The Ballot in more ways than one.