President-elect Donald Trump is set to establish a National Energy Council aimed at promoting American energy dominance, with a focus on increasing U.S. oil and gas drilling.

The council will have broad authority over federal energy agencies and seeks to streamline processes to enhance private sector investment and innovation.

Trump's energy dominance strategy is viewed as an opportunity for the oil industry, relying heavily on private companies' decisions rather than government mandates.

However, Trump's push for increased oil supply may be complicated by his proposal to impose 25% tariffs on oil imports from Canada and Mexico, which could raise prices and threaten national security.

Industry representatives, including the American Petroleum Institute, oppose these tariffs, emphasizing the importance of maintaining free trade with Canada and Mexico for energy security.

There are concerns that Trump's energy strategies may neglect the pressing issue of climate change, which experts warn is critical to address.

Experts urge the council to prioritize renewable energy initiatives to mitigate the impacts of climate change, especially in light of severe weather disasters this year.

Despite Trump's previous downplaying of climate change risks, the new energy council is expected to consider renewable energy sources alongside traditional energy.

Interestingly, many Republican-led states are embracing renewable energy for its economic benefits, which may influence Trump's approach despite his skepticism towards climate change.

North Dakota Governor Doug Burgum, who will lead the council, has highlighted the increasing electricity demand driven by artificial intelligence and data centers, linking energy strategies to technological advancements.

While Trump aims to lower gasoline prices to below $2 per gallon, experts find this unlikely without significant drops in crude oil prices, which are currently at record levels.

Despite Trump's ambitions, U.S. oil production is already at record levels, which may limit his ability to compel companies to increase drilling.