On inauguration day, President Trump declared a national energy emergency, emphasizing increased U.S. fossil fuel production. This declaration aims to unlock executive powers to suspend environmental regulations. Trump promised to reduce energy prices significantly while announcing plans to open up Alaska for exploration and end the electric vehicle mandate. Experts warn achieving lower prices may be challenging due to global factors influencing the market. Despite the U.S. being a net exporter of fossil fuels, the administration seeks to boost production and energy infrastructure amidst rising competition in various sectors.