Trump’s Policies Are Bad News for His Favorite Industry. Low oil prices, tariffs, and other pro-drilling policies could wreck the oil industry. Despite oil and gas executives’ blistering criticism of Trump’s policies, the White House seems determined to stay the course.

https://newrepublic.com/article/194388/oil-prices-trump-economy

by mafco

9 comments

  1. Because it was never about US oil. It was about Russia oil. Kill US energy production, make Russia the only remaining supplier, be forced to roll back sanctions to fill the gap that the US market is unwilling to fill. We see super cheap gas prices, Russia makes a ton of money, and all of the rich US fossil fuel execs cry that they’ve been betrayed after conspiring to rig the system against everyone else.

    Corrupt oligarchs don’t have friends, they have pawns. Game pieces. While I don’t believe Trump is the mastermind in all of this, one thing is certain, most of his cronies are getting played, hard. It will take some time for it all to shake out, but in the end the US will be left a shell of its foreign self at the current rate.

  2. America is only two hundreds years old but already behaves like a dying empire. Holding on to the dying petrol dollar while the world has moved on from it, instead of innovation to push for growth, it’s financial tricks and bit coin scam, no longer welcome people who come for a better and freer future but make sure to open the VIP door to anyone wealthy enough to become part of the swamp, replacing hope and dream for bitterness jealousy and perpetual victim mentality, so ignorant that they believe the world order that they were on the top of it is ripping them off, the playground bully diplomacy, Christians who despise compassion.

    When you are truly believing in something, you will behave accordingly and make the fear come true. These conservatives believe in the fall of western civilization, they are acting accordingly like the end of man. It’s all about suit, all about trolling, all about louder and louder and louder, no responsibility but plenty desire for breeding. It’s like the extinction of a species, giving up fighting for ideals, retreat to only animal instincts. But it’s not animal, it’s humanity that makes the west great, that bestows anything meaning.

    God always has the most poetic vengeance, we are our worst enemies.

  3. The Trump policies aren’t going to wreck the oil industry more then geology already was, but they do appear to be aimed at prematurely destroying the auto industry.

    If oil gets much lower, producers stop investing in new wells and supply drops, thus raising the cost of oil.

    The tariffs on cars mean people won’t buy cars because they are increasingly more expensive and used cars cost more. The cost of driving was already getting out of reach for many people, now you have higher upfront costs, higher insurance, more expensive repairs, and underfunded infrastructure repairs which is going to lead to a collapse of the auto centric lifestyle for everyone but the highest earners. Artificially subsidizing the auto centric lifestyle is the US government’s greatest inefficiency and it’s elimination is key to preparing our transition to a way of life that is sustainable for future generations.

  4. Putin cares only about stalling clean energy and climate solutions. If Putin is happy, Trump is happy.

  5. The US oil industry seemingly had everything – record production, record exports, record profits, a booming, growing economy and steady leadership. Then it got greedy and bankrolled a rapist, convicted criminal, pathological liar and possibly the dumbest person ever to set foot in the White House to take over. All because he stood on stages wearing orange makeup and chanting “drill baby, drill!” to cheering throngs of red-hatted losers. Well the industry got what it wanted. The moral is to be careful what you wish for.

  6. The oil industry supported Trump, so they are getting what they paid for.

  7. There will be no new drilling if this keeps up. No new rigs built either.

  8. His policies are not to serve all Americans – just the filthy rich.

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