A delegation of senior oil and gas executives is in Washington Wednesday for a meeting with President Donald Trump and members of the lobby group American Petroleum Institute (API).
The closed-door meeting at the White House comes as additional tariffs are expected to go into effect the first week of April. It will be the first meeting of its kind the president has attended since he returned to office on January 20.
Trump is expected to discuss policies that would lead the US in “energy dominance,” reported oil and gas publication Argus Media.
"We appreciate the opportunity to discuss how American oil and natural gas are driving economic growth, strengthening our national security and supporting consumers with the president and his team," said API.
The API’s top executives will attend the meeting of about 15 delegates, along with at least one Canadian oil executive, as the individual confirmed to the Western Standard.
At the meeting, executives will discuss the future of the industry, articulate the need to stabilize oil prices at the $80/barrel mark and seek assurance refineries relying on Canadian crude will not experience price shocks, said the oil executive.
The API in 2024 issued a policy guide that pushed for cancelling electric vehicle initiatives, opening American LNG exports and offshore oil and gas leasing and expediting permits — many of which the Trump administration has already acted on, or is in the progress of implementing, according to Argus.
In efforts to ease inflation, the Trump administration is striving to deregulate the cost of oil — last week, the president said he is “very happy” with oil prices at US $65/barrel and Treasury Secretary Scott Bessent indicated he believes it should be even lower, at $50/barrel.
CNBC reported Interior Secretary Doug Burgum and Energy Secretary Chris Wright will also attend Wednesday’s meeting at the White House. The outlet confirmed the meeting’s focus will be on energy dominance, as well as artificial intelligence, data centers and mounting energy demand in the US.
Public biographies indicate Chevron CEO Mike Wirth, ConocoPhillips CEO Ryan Lance, Marathon Petroleum CEO Maryann Mannen and Phillips 66 CEO Mark Lashier are members of the API committee, though it has not been confirmed they will be at the meeting.
