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Good morning. I'm Taylor Wilson, and today is Monday, December 16th, 2024.

This is the excerpt.

Today, what would Trump plans on oil mean for gas prices? Plus, how to become a 401k millionaire? And where do ideas around white Christmas come from? On the campaign

trail, President-elect Donald Trump vowed to lower consumer prices that have soared since the pandemic,

explaining how he would do so by saying, drill baby drill.

Trump told supporters in August, quote, at the center of our effort to bring the cost of living under control,

will be the all-out push to end the Biden-Harris war on American energy.

We will drill baby drill, unquote.

Trump is expected to speed drilling permits that took an average 258 days to complete

during the Biden administration, hold permit sales more frequently, and increased drilling off the

U.S. coast, Reuters reported last month.

Those steps theoretically could reduce oil and gasoline prices and help nudge down the

price of groceries and other goods by cutting their transportation costs, but would they?

It's not likely, experts interviewed by USA Today say. Robert Kaufman is a Boston University professor

who studies global oil markets, climate change, and land use changes. He said that the

world oil market

determines the supply and demand balance, and that a significant boost in U.S. production would

trigger responses from other producers that would leave crude and gas prices roughly unchanged.

And gas prices are falling, broadly speaking.

The price of benchmark U.S. crude oil has tumbled to about

...