Trump may declare a national energy emergency to broaden his legal avenues for tackling high energy costs.

After his inauguration on Monday, President-elect Donald Trump will declare a national energy emergency to lower energy costs, a White House official informed reporters.

The official stated that the national energy emergency will grant various authorities the ability to produce more natural resources, but did not specify which authorities Trump will utilize.

The national energy emergency is critical because our domestic American energy production is vital for staying ahead in the global AI race with China, as well as generating the electricity and power required to maintain our technological superiority.

An official stated that Trump will sign an executive order to boost energy production in Alaska, but did not provide further details.

The official emphasized the importance of Alaska for national security due to its strategic location and its potential as a source of LNG exports to both domestic and international markets, particularly in the Asia Pacific region.

For many years, the U.S. has been the world's largest producer of crude oil, surpassing Saudi Arabia and Russia. According to Exxon and Chevron CEOs, oil and gas production levels are determined by market conditions and are unlikely to significantly increase in response to changes in the White House.

In a Jan. 8 interview with CNBC's Brian Sullivan, Chevron CEO Mike Wirth stated that while there is still some potential upside, growth at the rate seen in recent years is unlikely as some new shale plays begin to mature.

According to CNBC, Darren Woods, CEO of Exxon, stated that U.S. shale production has not been hindered by any "external restrictions" under the Biden administration.

According to Woods, in a Nov. 1 interview prior to Trump's election victory, we wouldn't observe any change based on a political shift but rather on the economic climate. He stated that no one is formulating a business strategy in response to a political agenda.

This is a developing story. Please check back for updates.