India, Dec. 10 -- The US oil industry is cautious about Trump's pro-petroleum moves, citing market conditions and regulatory uncertainties. High costs, opposition, and unconfirmed reserves hinder investment, despite political support.

As the Trump administration makes announcement after announcement about its efforts to promote the United States fossil fuel industry, the industry isn't exactly jumping at new opportunities.

Some high-profile oil and gas industry leaders and organisations have objected to changes to long-standing government policy positions that give companies firm ground on which to make their plans.

And the financial picture around oil and gas drilling is moving against the Trump administration's hopes. Though politici...