Over the weekend, the Southern United States braced for impact as tropical storm Barry made landfall. Though inevitable, the United States’ annual storm season never fails to leave a path of destruction in its wake that — thanks to the area’s booming oil and gas industry — could potentially have consequences that reach around the world.Continue reading
On Wednesday, Donald Trump visited Houston, Texas, the nation’s energy capital, to continue the fight for American energy dominance.
On a hard-charging tour of the Lone Star State, the President took the time to speak to a room filled with oil and gas professionals. In his speech, Trump reasserted his commitment to the nation’s oil and gas industry, praising their past success while paving the way for future prosperity.
Join me in Crosby, Texas as I deliver remarks and sign Executive Orders on Energy and Infrastructure! https://t.co/oun56uzi53— Donald J. Trump (@realDonaldTrump) April 10, 2019
Building the Infrastructure of Tomorrow
While signing the pair of executive orders, Donald Trump spoke to an enthusiastic crowd about his administrations intentions.
“My action today will cut through destructive permitting delays and denials,” explained the President, “so that you can get to work producing the energy and the infrastructure our country needs to thrive and compete and to win. All over the world, we’re winning. Our country is respected again.”
THANK YOU Texas, I love you! pic.twitter.com/24D4K9ILFd— Donald J. Trump (@realDonaldTrump) April 10, 2019
In more practical terms, Trump’s latest executive orders will set about a robust program of infrastructure-building that will focus on erecting new pipelines. In the executive order itself, Trump wrote:
“To fully realize [its] economic potential … the United States needs infrastructure capable of safely and efficiently transporting these plentiful resources to end users. Without it, energy costs will rise and the national energy market will be stifled; job growth will be hampered; and the manufacturing and geopolitical advantages of the United States will erode.”
The Ongoing Battle
Donald Trump’s latest gesture is a step in the right direction for the United States’ embattled oil and gas industry. Even as the President takes strides to relieve the regulatory and legal pressure placed on the shoulders of the country’s oil producers, forces are at work to undo Trump’s work.
At the tail end of March, US District Judge Sharon Gleason determined that Trump’s attempt to revoke a ban on drilling in the Arctic and Atlantic oceans wasn’t legal.
In spite of the President’s repeated attempts to turn the tide for American oil and gas, it seems like the nation is destined to keep taking one step forward and one step back until everyone can get on the same page.
Today, oil price rose nearly 2 percent, hitting a high not achieved since November 2014. While the uptick in price is partially-attributed to limited supplies, the market responded to possible news of new U.S. sanctions against Iran. Continue reading