Trump's Ambitious Energy Bet Could Pay Off as the World Continues to Rely on Oil and Gas

The world consumed more energy than ever before in 2025, and despite record growth in renewable energy, 86% of global energy demand was still met by oil, natural gas, and coal, according to the Energy Institute's 2026 Statistical Review of World Energy.

The report comes as U.S. President Donald Trump continues to push for expanded domestic oil and gas production, arguing that increasing energy output will lower prices, strengthen national security, and boost economic growth.

According to the report, although investment in renewable energy continues to grow, the global economy remains overwhelmingly dependent on fossil fuels. Total global energy consumption reached an all-time high in 2025.

White House spokesperson Taylor Rogers said the findings support President Trump's energy agenda, arguing that even studies from traditionally critical sources show the success of his "energy dominance" strategy. She said increased U.S. production of oil, natural gas, and coal has helped create jobs, lower energy costs, and strengthen America's energy security.

The report also found that the United States produced a record 21.1 million barrels of oil per day in 2025, nearly matching the combined output of Saudi Arabia and Russia. The U.S. also remained the world's largest producer of natural gas and the leading exporter of refined petroleum products.

Meanwhile, growing tensions involving Iran have renewed concerns over the security of the Strait of Hormuz, one of the world's most critical energy shipping routes. Although the report's data predates the conflict, it highlights how geopolitical tensions can threaten global energy supplies.

Approximately 20 million barrels of oil and around one-fifth of the world's liquefied natural gas (LNG) pass through the Strait of Hormuz every day, along with significant shipments of gasoline, diesel, and jet fuel.

Economist Stephen Moore said every major flare-up in the Middle East disrupts global energy markets. He argued that the latest conflict has once again exposed the world's dependence on oil flowing through the Strait of Hormuz, placing upward pressure on global energy prices.

E.J. Antoni, chief economist at the Heritage Foundation, said the conflict demonstrates that the United States should move beyond energy independence and pursue what President Trump calls "energy dominance." He argued that expanding domestic oil production and refining capacity would better protect the country from future geopolitical shocks.

The White House maintains that increasing domestic oil and natural gas production is a key pillar of President Trump's broader economic agenda, helping shield Americans from global energy disruptions while keeping energy prices lower for consumers.