How does Europe benefit from Trump’s advertisement to increase oil and gas production?

German counselor Olaf Schultz welcomed the step announced by US President Donald Trump regarding energy policy.
Trump had announced his intention, and in statements to the German newspaper “Handspillos”, Schultz said, commenting on what Trump announced that the increase in the supply in the global market means low energy prices.

Transfer towards climate neutrality

He added: “This will be good for Europe and Germany because it will help us in the stage of moving towards climate neutrality, which will continue until almost the middle of the century.
Referring to the former US president, Schultz said he was always opposed to stopping the expansion of liquefied natural gas stations in the United States, commenting: “It is good that working to expand it will continue now.”

Germany has established stations for importing liquefied natural gas on its coasts after the beginning of the Russian war on Ukraine, to overcome Germany’s dependence on Russian gas.
Nevertheless, Schultz reaffirmed his criticism of Trump’s decision to withdraw again from the Paris Climate Agreement, describing it as “frustrated.” He stressed that Germany will continue its commitment to its path.

Climate warming

He stated that climate warming represents a serious threat and a major economic challenge, and with regard to Trump’s announcement of his intention to impose customs duties on products coming from the European Union, Schultz stated that the European Union has limited its commercial policies for good reasons.
He added: “If the United States changes its customs policy towards the European Union, we can respond collectively and defend ourselves, the trade war will not benefit anyone, but we are not weak.”