‘Drill, Baby, Drill’ Is Unlikely Under Trump, Exxon Says (1)

Oil and gas producers in the US will not raise output significantly in the coming years despite calls from President-Elect Donald Trump to “drill, baby, drill,” said Exxon Mobil Corp.’s Upstream President Liam Mallon.

“I think a radical change is unlikely because the vast majority, if not everybody, is primarily focused on the economics of what they’re doing,” Mallon said on Tuesday at a conference in London.

Trump is expected to open up federal lands for more oil and gas drilling, but much of the land in the country’s largest oil and gas producing state, Texas, is private. ...