Trump promises to ramp up energy production, lower cost of eggs during joint address: ‘Liquid gold’

President Donald Trump promised to “make America affordable again” by reducing the cost of energy during his joint address to Congress Tuesday night.

Speaking in the U.S. Capitol, Trump said that he was “fighting every day” to “reverse” the economic damage that he blamed on his predecessor, former President Joe Biden.

“Joe Biden especially let the price of eggs get out of control,” Trump said. “The egg price is out of control, and we’re working hard to get it back down. “

“A major focus of our fight to defeat inflation is rapidly reducing the cost of energy,” the president continued. “The previous administration cut the number of new oil and gas leases by 95%, slowed pipeline construction to a halt and closed more than 100 power plants. We are opening up many of those power plants right now.”

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President Donald Trump attends a joint session of Congress at the U.S. Capitol in Washington, D.C., March 4, 2025. (Brian Snyder/Reuters)

“We have more liquid gold under our feet than any nation on earth, and by far,” Trump said. “And now I fully authorize the most talented team ever assembled to go and get it. It’s called drill, baby, drill.”

Slashing energy prices was one of Trump’s many campaign promises before he was elected in November 2024. At a rally in State College, Pennsylvania, Trump vowed to lift the U.S. pause on U.S. liquefied natural gas export terminals.

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President Donald Trump enters the U.S. House chamber before he addresses a joint session of Congress at the U.S. Capitol on March 04, 2025, in Washington, DC. (Win McNamee/Pool via Reuters)

“Starting on day one of my new administration, I will end Kamala Harris’ war on Pennsylvania energy,” Trump said to the crowd on Oct. 26. “And we will frack, frack, frack.”

Trump also promised his supporters that their energy bills would be halved within his first 12 months in office. Before he was confirmed, Secretary of Energy Chris Wright previously said that lowering the cost of energy was one of three of his main objectives in office.

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President Donald Trump takes a question from a reporter before boarding Marine One on the South Lawn of the White House on February 28, 2025, in Washington, D.C.  (Andrew Harnik/Getty Images)

“Federal policies today make it too easy to stop projects and very hard to start and complete projects,” Wright said in January. “This makes energy more expensive and less reliable. President Trump is committed to lowering energy costs and to do so, we must prioritize cutting red tape, enabling private sector investments, and building the infrastructure we need to make energy more affordable for families and businesses.” 

Fox News’ Breanne Deppisch contributed to this report.