The oil and gas industry in the United States faces a dilemma: it has achieved record-breaking production under President Biden’s term, despite his policies, not because of them. The industry favors former President Trump’s energy platform, which includes more drilling and fewer restrictions. However, Trump’s proposed trade tariffs and scrapping of the Inflation Reduction Act may not benefit the industry. The Inflation Reduction Act provides funding for carbon capture and hydrogen projects, which the industry supports, despite its criticism of the act’s emission fees. The industry is also concerned about a potential escalation of the trade war with China, which could increase the cost of energy projects.