Trump tariffs crashes WTI oil price to barely break even price for US fossil fuel industry. CEOs warning Trump oil production goal impossible to be reached.

3 comments

1. I had been wondering about reduced trade with China and its impact on oil production and global co2 emissions. 

2. After the election last year, Trump now treasury secretary Scott Bessent mentioned that one of the administration’s goal is to increase oil production to 3 millions extra barrels per day. However, increased production requires an increase in price to match. Recession fear plus paralyzing tariffs all work against increased economic activity and thus against oil demand, thereby making “drill, baby, drill” mostly a mantra of a bygone age.

3. Nelsonlaughing.gif

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