The Globe and Mail reports in its Tuesday, Jan. 28, edition that U.S. President Donald Trump is pushing energy policy toward fossil fuels, but oil and gas companies are hesitant to increase drilling despite his executive orders favouring their industry over renewable energy. A New York Times dispatch to The Globe reports that executives indicate that more production hinges on rising oil and gas prices, which may conflict with Mr. Trump's goal of lowering energy costs to combat inflation. While the industry expresses optimism, they are more focused on controlling spending than during Mr. Trump's first term, making immediate increases in drilling unlikely. Wall Street firms previously invested in rapidly growing fracking companies. Now, investors prefer to support operators that are profitable. U.S. oil and gas companies' index dropped about 3 per cent last week, losing more ground Monday with oil prices below $73 (U.S.) a barrel. Natural gas prices surged recently due to extremely cold winter weather. Mr. Trump's declaration of a national energy emergency, along with other executive orders, signals a strong commitment to bolster fossil fuel demand, marking a significant shift from his predecessor's climate-focused agenda.