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re: What do you think Trump as POTUS means for the O&G industry
Posted on 11/9/16 at 9:55 pm to Jenar Boy
Posted on 11/9/16 at 9:55 pm to Jenar Boy
Unfortunately not a ton in the near or interim term. Decreasing regulations will help, but it will ultimately be a drop in the bucket from a global standpoint.
0
Posted on 11/9/16 at 9:57 pm to biglego
quote:
He'll need the oil for his concentration camps
And gas for the gas chambers
Posted on 11/9/16 at 10:01 pm to Jenar Boy
He could in theory cut off OPEC imports. We currently produce 80% of oil domestically. The problem is in this price climate we can't step up production. New projects are on the back burner and most of the rig activations are old projects or DUC wells.
Then you have like i mentioned refinery set ups. It coasts a lot of money to refit a refinery for a new type of oil, one that is currently set up for Venezuelan heavy oil to possibly West Texas Intermediate.
Plus you have the products of these types of oil. Most of the current areas in the being drilled are lighter oils, where Venezuela and Canada provide the heavy oil. From these you get asphalt products, bitumen and other heavy oil products. We would have to replace these for our own consumption.
Then you have like i mentioned refinery set ups. It coasts a lot of money to refit a refinery for a new type of oil, one that is currently set up for Venezuelan heavy oil to possibly West Texas Intermediate.
Plus you have the products of these types of oil. Most of the current areas in the being drilled are lighter oils, where Venezuela and Canada provide the heavy oil. From these you get asphalt products, bitumen and other heavy oil products. We would have to replace these for our own consumption.
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