re: These tariffs on China will kill the oil industry.

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aren't you going to hire a bunch of lawyers to handle the work?

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Preferably lawyers that will work for $200 bucks per hour.

OP, I almost wanted to agree with you on principle about the cost/benefit of tariffs, but for fricks sake...

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Not only will we lose one of the biggest importers of our oil as they'll go elsewhere (likely Russia) for their oil,

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OK, that may be valid.. after all, China does account for 20% of our oil exports..

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Yes, the oil price will increase.

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Wait.. what?

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I just read an article that O&G exports to China is on the rise, but with these tariffs, that will change. Since we're so "new" to exporting O&G (2015 as you guys have pointed out), how do we have enough data to try and say it's not going to make a huge change to the industry?

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Slow your roll buddy. US oil exports to China: ~225,000 bbl/d. Total US oil production: ~9,320,000 bbl/d (that's during a downturn).

Also, as you mentioned, we only recently exporting oil as a means to close the gap between domestic and international pricing. That being said, the US also still imports a massive amount of crude. If you ballpark US oil consumption as "producton+imports-exports", we consume 16,114,000 bbl/d of oil. The amount we export to China is a drop in the bucket compared to consumption. And.. do you not realize that the 225,000 bbl/d we export to China would be absorbed elsewhere if they bought it from Russia instead? It's a global market.

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I hope you guys enjoy your $5 gas and $10 milk. Also, you'll be purchasing less gas because of this, so it won't be helping the industry.

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OK you're fricking with us right? When it comes to China, we are net exporters of both. So a trade war with China is going to create a surplus of milk and oil in the US making both... more expensive???

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So you'd say we have a great supply of oil? Won't need it much longer if so, in the long run, the prices will rise.

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The US has become the world's swing oil & gas producer. If anything the shale plays in the US are stabilizing world oil prices because the wells can be drilled/completed quickly and have short lifespans before they need to be worked over.

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there will also be people using less of it as they won't make unnecessary fill ups... they'll resort to other modes of transport.

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Now I know you're trolling. If not, you really should have picked a subject you're more familiar with because you have no fricking clue what you're talking about.

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Fair enough. I don't work in the industry

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This much is clear.

ETA: For the record, I tend to believe in unforeseen consequences when it comes to tariffs. Problem is you picked the one industry you know abso-fricking-lutely nothing about to try and show your economic prowess, even though you know that TD is full of oil & gas employees.

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Yeah but the higher the price per barrel, the less you’ll be selling.

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Not necessarily. Supply is greatly influenced by refining. Demand increases in parallel with economic growth.

[Forevergator]

Never....never,never,never......ever......allow any of your potential clients know that you go by Forevergator on TD. DO NOT let them get to this thread...ever. You would be committing career suicide.

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hey'll go elsewhere

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Tariffs or no tariffs they'll go for the most reliable and lowest cost provider, period.

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I’ll bookmark my own thread for when I bring this subject back up in a year or two when the tariffs have made full effect.

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You mean when the US oil & gas industry is dead.. NOT because of advancements in fuel efficiency, alternative energy sources, changing regulations, or global thermonuclear war.. but because of tariffs on Chinese goods?



Please do.

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is this thread worth the read?

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Cringeworthy.

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Tariffs are a bad idea. UNLESS, he uses this for quickly negotiating some more favorable things.


There is no country on earth that WANTS to give a middle finger to a 20 Trillion dollar economy.


Now, am I confident that something smart will come out of this (quickly)? No. But, I am not ruling it out. Dude has done a few things pretty well.

I will wait and judge by results.

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I actually thought this when they first announced the steel and aluminum tariffs.
Trump's a negotiator. In order to negotiate, you have to have something to give up.

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Geauxst Writer

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stupid khunt

You won’t think I’m a clown when I’m right. You’ll think to yourself... I remember this guy saying that a couple of years ago, now look how right he was.