Trump says he will declare national energy emergency, revoke electric vehicle 'mandate'
Posted: Jan 20, 2025
- President Trump announced he will declare a national energy emergency to fight inflation
- He plans to end the "Green New Deal" and the electric vehicle mandate
- The U.S. will be withdrawn from the Paris climate agreement
- Exxon $XOM and Chevron $CVX CEOs stated oil and gas production levels will not increase significantly in response to this news
- Emergency statutes could be invoked to increase gasoline and electricity supplies, but there is little the president can do to force more oil and gas production
What do people on Reddit think?
🚨 Reddit sentiment: mixed/negative - While there is a recognition that existing players like Tesla might benefit, the overall sentiment is skeptical and critical of the proposed actions, suggesting concerns about market manipulation and barriers to new entrants. Summarized comments: - Some believe that changes in EV policies will directly or indirectly benefit Elon Musk and, by extension, Tesla - Comments suggest that Trump's statements may create a challenging environment for new EV players, benefiting established companies like $TSLA - There is skepticism about the necessity and reasoning behind the proposed national energy emergency - Some comments reflect a belief that Trump's market influence through statements and tweets is reminiscent of earlier times - A recommendation to buy Rivian (RIVN) is mentioned Stock tickers discussed: $TSLA, $RIVN
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