Trump to declare ‘national energy emergency’ to open up resource extraction

34 comments

1. as he will die in a few years he doesn’t care, history will judge that he was a very bad politician

2. As promised. Dictator day 1, drill baby drill.

3. What energy emergency???

4. Energy emergency yet this orange bag of turds is planning on killing the wind turbine industry.

5. I’m confused, aren’t we already pumping record oil? Who’s going to pump more and lower the cost? If we’re talking about mining don’t companies typically have to have a buyer for the product? Or is this going to be one of those things where nothing changes but his cult believes it has?

6. Absolute insanity.

7. I’m not sure of the value of those so called emergency actions. However, I don’t want to hear any complaining if we someday get a Democratic administration that declares an gun emergency and uses the army to round up firearms in the country. If one side can arbitrarily declare a made up emergency then its fair game for the other side. Just saying. (and I’m a Republican).

8. Shouldn’t there be an actual emergency before he can declare a “national energy emergency”? I guess him needing more bribe money is considered an emergency now?

9. What the fffff?!?

10. But he won’t send emergency FEMA funds to California.

11. Hold up. Since there is no real emergency, won’t this flood the market with excess oil and actually drive the price per barrel down? Don’t think Exxon Mobile, BP, Shell, et al will like having their profits plummet do you?

12. This is an utter catastrophe from which many ecosystems and possibly the biosphere will never recover. ANWR is supposed to be a refuge.

13. Wouldnt this dramatically decrease margins for these companies ?

14. If there actually was a god blessing America…well I guess tRump’s rise to power is proof positive that their is no god, or it hates the human species and wants us to destroy ourselves to save the earth. None of this makes any sense, and so I know it is wrong, wrong, wrong.

15. I really hope the people who have sworn to protect the constitution do so. This is the bugest threat to our democracy and constitution since we formed this union. We need to be brave. Its worth sacrifices to preserve America for our children and their children’s children.

16. Grow up people…tRump and his cronies are trying to destroy our dollar based economy and replace it with made up scammy bitcoins…and then they will steal ALL our collective wealth and rule us from their ivory tower. We have been relegated to serfdom. Jokes on us, I guess.

17. Oil companies are already drilling to capacity . They will lose money if they flood the market . No way they’re going to .

18. Not wasting any time on the grift and lining the pockets of all of his friends

19. Free Luigi!

20. If it ain’t coal, it ain’t American.

21. Eh, people need to keep in mind that he does a lot of things to generate headlines while accomplishing very little. He also plans to “end” birthright citizenship via executive order, which is enshrined in the Constitution (I.e., he can’t actually do it but will pretend he did).

    I’m sure many of his executive orders will be bottled up in litigation for the foreseeable future.

22. I’m scared.

23. You know what’s funny is that if he succeeds at this and does pump out more oil the US won’t be able to refine it and will need to ship out for refining, probably to Canada, further driving the trade deficit that he’s been crying about because he doesn’t understand how that all works.

24. The Biden administration approved more petroleum wells on Federal and Indian land than Trump’s prior administration did. The restriction on US production is economic and geological, not regulatory.

    Trump’s not going to get many takers so long as the [WTI futures curve](https://www.cmegroup.com/markets/energy/crude-oil/light-sweet-crude.quotes.html) dips below $70/bbl past 2025. The whole upstream market suffered *greatly* from over drilling in the mid 10s, with *hundreds* of bankruptcies. Private mineral rights leases that would expire without at least one well, and easy credit thanks to lots of liquidity sloshing about, lead to a bonanza of drilling, and natural gas prices between $2-3/Mcf ($12-18/bbl oil eq.). There’s survivor bias in the remaining industry, mostly companies seeking to pay down debt and maximize free cash flow. The deepwater industry isn’t going to even look at the remaining US offshore prospects under $80/bbl. Their rigs are all doing well drilling offshore W. Africa and Brazil, in any case.

    Then there’s the geology. US conventional oil production peaked 55 years ago in 1970, the growth in production since 2010 (for gas, since 2005) has all been from fracked wells in source shales. It doesn’t flow without millions spent drilling long laterals and multi stage fracturing. For the past 15 years, the sweet spots of each shale basin (thick layers, oily, high saturation) have been drilled first. What’s left is mostly poorer quality: thinner shales, buried deep enough so its mostly condensate or natural gas, products already trading at huge discounts to petroleum.

    There’s of course, one huge exception to problems of economics and geology. The NPRA and ANWR in Alaska. The whole area was known to host substantial petroleum due to natural oil seeps by the late 19th century, and designated the Naval Petroleum Reserve in 1923. There, the issue is infrastructure. It take years to build roads on the permafrost, just to begin development drilling. Trump can declare an emergency while wholesale gasoline prices are $3.00/gal, but it won’t move the needle on North Slope production during his term.

25. He’s going to have a harder time stopping renewable energy than he thinks.

26. He’ll make some EO, nothing will change, and he will claim victory……”we are pumping the most oil as ever under the Trump administration.” When the people that adore you don’t care about facts, you don’t need to be factual.

27. Declares energy emergency and shuts down offshore wind at the same time. Unbelievable.

28. Its almost like your new president is a soulless clown who only cares about money. Good job USA 👍

29. The only energy emergency is being caused by this geriatric dementia patient placing a 25% tariff on all imports from Canada and Mexico, the largest and second largest foreign suppliers of petroleum to the US. Between the two, Canada and Mexico provide near 2/3 of all imported petroleum in the US.

30. tes do it, then when a dem wins he can claim a climate emergency and ban coal , gas cars and oil production facilities. im sure the gop wont have an issue with that

31. There is no emergency. The market is oversupplied.

32. As the ACLU put it, he is a Holmesian bad man.

33. Joe Biden couldn’t swing a global and economic emergency to forgive student loans but let’s watch the GOP led congress start quaking in their boots over the oil industry because Trump said so

34. The thing is companies aren’t going to rush in because they know the long term economics don’t make sense. More performative crap for his base.

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