“Drill, baby, drill” is taking a back seat in Trump-world policy, while China is boosting its coal output and storing natgas supplies. There’s fresh evidence that President Trump and his team are willing to sacrifice “drill, baby, drill” in the US for low prices and other policy priorities. Trump’s Arctic ambitions are torching the most important US asset: trust. The US is squandering this. It risks paying a heavy price for this in the decades to come. US shale is no longer an elastic swing producer. Harold Hamm, the legend who invented the Bakken shale boom, announced last month he
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