I don't know who'll prevail in the U.S. election. But one thing we can probably all agree on is that incumbent leader President Donald Trump has had an extraordinary impact on the global oil market. From crippling the oil exports of Iran and Venezuela to taking credit for brokering the biggest-ever voluntary production cuts, Trump's fingerprints are all over.
How might that change after the November vote?
The U.S. oil industry
Things will carry on pretty much as they are if Trump retains his place in the White House. I couldn’t find any new initiatives on his campaign website, while the specific achievements listed on his energy and climate page consist mostly of reversing his predecessor’s actions.
The headline accomplishment of opening more leases and expanding offshore oil and gas drilling may not be all it seems. Fewer than 1% of the Gulf of Mexico blocks offered for lease attracted bids in the six completed sales so far during Trump’s presidency, according to documents posted on the Department of Interior’s website. Results of a seventh sale are due to be announced next month.
No comments:
Post a Comment