while gas prices have gone down recently Trump is smart to do this- not only will it bring down gas prices and help us in the pocketbook- but it will also help increase our revenues Trump plans to unleash fossil fuels and mining in 2025, unraveling Democrats green new deal
Wow! This should be interesting seeing at how we've been producing at historical levels for several years.
Wow, so as demand for the product decreases and supply increases, we will see only see price decreases, not falling quantities supplied?
Given that thousands of permits are not acted upon since the profit margin isn't adequate......perhaps Trump plans to force companies to extract more oil at a loss? I know he was really good on The Apprentice, but I wonder just how he is going to do this? It's actually farcical, at this point, that people believe Trump's con and bull..oney on things like this. Pure comedy.
& yet Donnie the Commie won’t let Nippon steel buy us steel. Hopefully it was just campaign drivel for the maga socialists & Elon’ll talk some sense into him.
We're already producing record oil domestically. How much more can we truly drill and refine? And what stops OPEC from reducing the amount they drill to keep global supply constant?
he cannot. the law allows a potus to set it aside but there is no legal mechanism to remove it so the law would have to be revised. reality is the O & G companies don't need anywhere else to drill, especially as the ultradeep tech is refined. those mega wells in the GOM are going to generate plenty combined with existing ground yet to be fracked Biden bans new offshore drilling in most federal waters in last-minute effort to block possible action by Trump administration | PBS News Biden’s orders would not affect large swaths of the Gulf of Mexico, where most U.S. offshore drilling occurs, but it would protect coastlines along California, Florida and other states from future drilling. Biden’s actions, which protect more than 625 million acres of federal waters, could be difficult for President-elect Donald Trump to unwind, since they would likely require an act of Congress to repeal. Trump himself has a complicated history on offshore drilling. He signed a memorandum in 2020 directing the Interior secretary to prohibit drilling in the waters off both Florida coasts, and off the coasts of Georgia and South Carolina until 2032.
Exactly… companies are not going to expand drilling while prices and demand are falling… “We should drill more to drive prices down and help people” said no oil company ever…. Dumb thread. Clueless opening thoughts…
“Trump’s Oil and Gas Donors Don’t Really Want to ‘Drill, Baby, Drill’ Our stocks will be absolutely crushed if we start growing our production the way Trump is talking about it,” said Bryan Sheffield, a Texas oilman who contributed more than $1 million to Trump’s latest campaign.” https://www.wsj.com/business/energy...8e99e?st=U7gMUZ&reflink=article_copyURL_share “Trump wants to expand production. Oil companies already have record output. Among the notable skeptics is ExxonMobil CEO Darren Woods. "I don't know that there's an opportunity to unleash a lot of production in the near term," he said to Semafor. Most companies are already "optimizing their production." Big Oil doesn't need to 'drill, baby, drill'
Headline Bill with another surface level post. 1. what is hindering production today? 2. why would the oil industry drive its price down? 3. why won’t OPEC respond again with an output increase that would quickly destroy US oil producers?
We all must remember; during the debate Trump's only (concept of a) "plan" to bring down inflation was to increase energy production. (I'm pretty sure he said this just before he told us that immigrants were eating all the dogs and cats in Springfield, Ohio.) Imagine being a grown adult and believing a word of the crap that this clownish charlatan spews.
Neither will Biden, to be fair. Or, more accurately, this entire issue exposes the fact we are the dumbest country on Earth. There is literally no good reason to oppose this. Our No 1 ally, across the Sea of Japan from our No 1 enemy (also their No 1 enemy) wants to invest 15B into OUR manufacturing, so it can hire, produce, expand and sell in our country. . . And both parties oppose this. Why? Union brass worried Nippon will offer the workers a better deal?
Xenophobic economic policy. You know it’s dumb when dems & pubs are united. Hopefully the courts will allow it. Same people cheer when bmw or Toyota build a plant here.
