RE:Trump and Energy.... "Tell me how inflation wont take hold if you disagree with me..."
Partial answer is the strength of the USD: cheap imports and gasoline at still very reasonable price.
It is the glue that keeps it all together right now and really the problem for us energy investors or any commodity investor as this reduces global demand for oil in emerging market or the growth engine. Commodities don't tend to do well in the face of a strong USD.
Also, don't forget that cars today are much more efficient than they were. A 5 seater SUV does 8 liters/100 km while only 10 years ago you needed a Civic to do that. Salaries have also gone up somewhat.
So $2.50 U.S./gallon gas is something that can easily be afforded.
Very low unemployment is concerning to wage increases but, it has been muted for a long time it seems. Once again, imports reduce pressure on that and also automation.