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Tariffs and Turmoil Undermine Trump’s Oil and Gas Promises

Oil & Gas‚ Oil and Gas Industry | intent | June 2, 2025 | Comment off

When U.S. President Donald Trump came into office in January, he promised to back greater oil and gas production, doubling down on his “drill, baby, drill” catch phrase. He rapidly introduced executive orders aimed at encouraging new oil and gas exploration across the country while reining in the renewable energy industry. However, since these early promises, Trump appears to be increasingly alienating the oil and gas industry as companies battle low oil prices, the uncertainty of a trade war, and several other challenges.

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Oil Rebounds on Trump Sanction Threats

Oil & Gas‚ Oil and Gas Industry | intent | May 2, 2025 | Comment off

US oil futures broke a three-day string of losses as equity markets strengthened and President Donald Trump threatened broader sanctions against buyers of Iranian crude.

West Texas Intermediate settled 1.8% higher, at $59.24 a barrel, after Trump said that any nation or person who buys oil or petrochemicals from Iran will be subject to secondary sanctions. It was the biggest one-day increase for US oil futures in more than a week.

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Trump Tariffs Reshape MENA Oilfield Services

Oil & Gas‚ Oil and Gas Industry | intent | April 22, 2025 | Comment off

The Trump administration’s tariff regime, intended to boost US manufacturing and inflict punitive damage on Chinese manufacturing, has disrupted multiple industrial supply chains into the US with cascading effects across other regions. For the Middle East and North Africa (MENA) region’s oilfield services (OFS) sector, the effects are indirect but may be significant if unmitigated by national oil companies (NOCs) and OFS suppliers.

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Trump’s Tariffs Just Torched His Own Energy Agenda

Oil & Gas‚ Oil and Gas Industry | intent | April 17, 2025 | Comment off

President Trump’s tariff policies – which tanked oil prices and raised the odds of a recession – are undermining America’s petroleum trade surplus. That’s not a desirable outcome for an administration fixated on fixing trade deficits. Petroleum and energy trade, in fact, is one of the few sectors in which the U.S. has a large trade surplus in the dozens of billions of U.S. dollars annually.

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Trump Considers Tariffs on Critical Mineral Imports

Oil & Gas‚ Oil and Gas Industry | intent | April 16, 2025 | Comment off

Over the long term, however, an effort to reduce the dependence on imports will pay off. Last week, China instituted export curbs on certain critical minerals like it did several years ago with Japan amid a trade dispute. In other words, China is no stranger to using its dominance in the sector as lever against trade partners with import dependence. China produces as much as 90% of the world’s rare earths output. This prompted a push by Western nations to diversify into their own rare earth supply chains but doing this has proven much trickier than talking about it.

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