The Trump administration has been conferring with major oil producers about possible actions to boost domestic output as a response to supply worries linked to the ongoing conflict with Iran, White House economic adviser Kevin Hassett told reporters on Thursday.
Hassett said discussions with the sector have been sustained. "Weve been in constant communication with the oil companies, and have been considering measures that we could take here in the U.S. to increase U.S. production really soon," he said.
According to Hassett, one area under review is the regulatory framework that governs how quickly production and related activity can move forward. He pointed to specific rules and procedures that may be delaying the pace of output. "There are things, regulations that are holding up, like how quickly stuff could come through ... and were studying those, how we can change those, and weve been talking to oil companies about that," Hassett added.
The discussions are framed as a preemptive effort by the administration to address potential disruptions to energy supplies arising from the conflict with Iran. Officials appear to be evaluating both the regulatory impediments and operational options that could enable U.S. production to respond more rapidly if needed.
Hassetts comments emphasize the administrations engagement with the private sector and its focus on regulatory levers as a means to influence near-term supply. He described the contact with oil companies as ongoing and portrayed regulatory review as the principal instrument under consideration to accelerate output.
Context and implications
While the administration has not outlined specific policy changes or announced any finalized measures, the statements signal a targeted examination of rules that affect the speed at which domestic oil production and related logistics can expand. The scope of potential regulatory adjustments and their timing were not detailed by Hassett in his remarks.