More drilling means more oil and prices going lower, means many drillers, especially the smaller ones will have to stop drilling because it costs more than they are earning. The majors will do exploratory drilling for future price increases which will then make it easier to make money with their reserved mothballed wells. The people Trump is putting in charge are in a position to direct laws that help the majors at the expense of small producers—or not. What do you think they will do??? The big boys in OPEC are finally forcing reduced production so they get paid more per barrel. Will a Trump government do the same, or follow policies that maintain cheap gasoline that most of his voters probably favor???
I’ve had this concept for a long time. It involves using up other nation’s resources and keeping ours for strategic reasons.
Resources like raw materials are something I think fit nicely into solid trade relations. As long as prices remain low, it seems to me it’s wiser to use oil that will be denied to China.
Do I want more oil jobs here? Yes..., but I understand why in the short term it may not happen.
I paid $2.25 a gallon towards the end of November. It’s the lowest price I’ve paid in many years.
These prices lower the cost of many of the goods we purchase.
I’m not knocking it.
I’m sure some in the oil industry are. I suspect it’s some of the same folks who get rally upset at the talk of tariffs, because that would drive costs to consumers higher.
Interesting times we live in.