Posted on 07/20/2016 11:38:59 AM PDT by bananaman22
With the Republican National Convention set to wrap up on Thursday, and the Democratic National Convention getting ready to kick off in Philadelphia next week, one prominent oil executive is noting that the industry has fared better under Democrats than Republicans.
Scott Sheffield, CEO of Pioneer Natural Resources, says that he has noticed the trend during his 42 years in the business.
That may sound strange considering the two parties’ diverse platforms when it comes to energy. The Republican party is touting deregulation and has said that it does not support the Paris Climate Accords. Going a few steps further, the party has plans to defund renewable energy, and open public lands and the outer continental shelf to drilling. Additionally, the party also wants to leave the regulation of fracking and drilling to the states, and increase oil and gas exports.
(Excerpt) Read more at oilprice.com ...
Well, if you already own an oil well, then Democrat policies are good for you, because they raise the price of oil.
Doesn't sound strange, sounds like a lie.
O&G pandering ping.
Yep, and if you are heavily invested in "green" energy the loss of the gov subsidies will also hurt the bottom line.
I remember gas prices skyrocketing under Billy’s brother Jimmy. Barry took to the skyrocket principle also. Barry shut down drilling so how does this writer come to these conclusions?
By “doing more”, that amounts to creating an artificial scarcity, therefore higher prices. It also means that any competition is suppressed, that the entry costs for getting into the exploration, extraction, transportation, refining and retailing of petroleum products are set so high that only very expensive products may make it to market, and by applying price controls to the retail market, virtually guarantees rationing. “Cheap”, but you may only purchase two gallons a week. The Venezuela solution.
No way to run a railroad.
Of course, coal energy is being destroyed under Obama.
“That may sound strange...”
I’ll go further and say it sounds outright stupid.
His goal is the highest possible oil price.
Scott Sheffield? Never mind.
lol ... wake me up when Exxon goes Dem ...
By cutting off land for exploration
How, by killing off coal?
In 1984 Reagan’s fundraising organization noticed that oil patch donors who had contributed in 1980 had not donated again in 1984. They contacted them to ask why that was, and were told, “In 1980 Reagan promised that he would deregulate oil and gas prices, and that the prices would go down, rather than up as the Democrats predicted. So we donated to Reagan’s campaign - and oil and gas prices - and our profits - went down.”
I know right..?
Gas prices are soooo high right now it’s scary...
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