Among the swathe of Chinese entities last week placed by the U.S. Department of Defense (DOD) on a blacklist of firms believed to be supporting Beijing’s military were several from its energy sector. Most notable of all, perhaps, were the China National Offshore Oil Corporation’s (CNOOC) international oil trading arm and the COSCO Shipping Corporation. […]
Trump says he’ll push shale producers to ramp up output, even if it means operators “drill themselves out of business.” However, it’s not clear he intends to accomplish this feat since U.S. oil is produced by independent companies and not a national oil company (NOC).
Trump has called for opening up the UK North Sea to oil and gas and getting rid of windmills in response to the recent announcement by Texas-based Apache that it would cease oil and gas production in the region due to the uneconomical windfall tax.
The OPEC+ group is wary that coming deregulation in the U.S. energy sector could boost U.S. oil production higher than forecast under incoming President Donald Trump, OPEC+ delegates have told Reuters.
Team Trump is preparing to make sweeping changes to the U.S. energy sector on day one. Boosting U.S. oil and gas drilling and accelerating permits for domestic energy infrastructure and LNG exports are expected to be top priorities for the new administration.
Trump is likely to implement universal tariffs on imports to encourage domestic production, along with incentives for reshoring key industries back to the US. He will most likely reduce the corporate tax rate to 15%, extend individual tax cuts, and eliminate taxes on Social Security benefits. At the same time, he is almost certain to push for a “big bang” of deregulation, which will decrease the regulatory burden and costs for corporate America. On the balance, while tariffs will ultimately be inflationary, tax cuts and deregulation will be deflationary, and it’s hard to predict which factors will prevail in the end.
President-elect Trump has vowed to impose a 25% tariff on all goods arriving from Canada and Mexico, a move he says is meant to address concerns over illegal immigration and drug smuggling.
President-elect Donald Trump said on social media Monday he would slap import tariffs on products from China but also Mexico and Canada, sending shockwaves across the Canadian economy. Crude oil is the top Canadian export to the United States and any tariffs would interfere with flows and revenues. In posts on his platform Truth Social, Trump said […]
BP Plc anticipates strong growth in the U.S. as President-Elect Donald Trump improves regulations on the oil and gas industry just as artificial intelligence boosts energy demand.
While it is worth noting that the U.S. is producing more oil and gas than ever before, Trump has repeatedly championed fracking production, promising a boom that will lower energy costs and bolster America’s energy independence.