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Imperial Oil Ltd
Symbol IMO
Shares Issued 517,860,941
Close 2024-11-22 C$ 108.03
Market Cap C$ 55,944,517,456
Recent Sedar Documents

Globe/NYT say MEG, rivals hear halving prices not easy

2024-11-25 08:22 ET - In the News

See In the News (C-MEG) MEG Energy Corp

The Globe and Mail reports in its Monday, Nov. 25, edition that U.S. president-elect Donald Trump promised voters he would cut energy and electricity prices in half within 18 months of taking office. A New York Times dispatch to The Globe reports that his transition team is currently developing a strategy, which involves boosting oil and gas production by approving new drilling projects and reducing environmental regulations. However, experts believe a president has limited influence over fuel and electricity prices, and while Mr. Trump's strategy might lower costs, it likely will not meet his ambitious goal. University of Houston energy economist Ed Hirs says, "It can't happen." Columbia Business School economist Gernot Wagner says, "Good luck." Americas for Woods Mackenzie vice-chairman Edmund Crooks says, "It is not completely impossible, but it is highly unlikely." Mr. Trump's spokesman Karoline Leavitt declined to discuss details but insisted that Mr. Trump would halve energy prices. "He will deliver," she said in a statement. One lever that Mr. Trump intends to use is increasing production by swiftly approving drilling permits on federal lands and waters.

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