Shale oil execs say Trump policies are hurting investment, ‘business is broken’

Şeyl oil executives say that President Donald Trump has invested in the oil patch and gives the US a terrible look for the future of the sector that transforms the world’s largest raw manufacturer.

Anonymous comments of the managers Three -month survey This week, Dallas Federal Reserve Bank by oil and gas companies. The responding 139 companies are mainly operating in Texas, North Louisiana and South New Mexico.

Trump has been attacking the renewable energy industry since he took office in January, defending fossil fuels. A great bill of invoicing in July by the Congress delivered almost everything that the oil lobby wanted.

However, Trump said that the uncertainty caused by lower raw prices, higher tariffs and “pencil stroke” policies damage the investment, and that managers in independent oil and gas manufacturers gave to Dallas Fed.

Approximately 80% of the managers participating in the survey said they delayed investment decisions in response to the uncertainty about the future price of oil and the cost of raw production.

Uz We started the twilight of the Shayk, dedi a manager said, thousands of people are dismissed and pointing to the consolidation of the sector under large companies. Exxon Mobile. “Writing on the wall,” he said.

‘The drilling will be lost’

Another manager warned that the barrel pushed $ 40 per crude oil while Trump increased the costs of steel tariffs. The US crude oil prices are currently trading about $ 65 per barrel, just above the level that manufacturers need to drill in a profitable way.

Another ruler said that the Şeyl industry was “drowning” throughout Biden and Trump administrations. He said that Biden’s political hostility expelled capital from the sector. Economic ignorance from Trump said “finish the job”.

“The US Şeyl was broken, dedi the manager said.

“US manufacturers kneeling in this process,” the Trump administration has been effectively compatible with the decision to increase oil supply by OPEC+.

“They are working with a little understanding of the economy of Shayl, directed by a US Department of Energy by a US Department of Energy. He said.

Regulatory costs

A White House spokesman said Trump “withdrawn the burdensed arrangements that kill the sector” and the President’s policies in June with record production. Energy secretary Chris Wright many times the administration cut the bureaucracy and made the drilling cheaper.

However, 57% of the executives participating in the survey by Dallas Fed said that since January, regulatory changes have reduced the costs of attempt to be less than $ 1 per barrel.

Another manager warned Trump that his attacks on the renewable energy industry will return to the oil and gas industry within a few years to be haunting the oil and gas industry. The person said that investors avoided energy because of the risk of use of the White House due to volatility and “pencil stroke”.

“Life is long, and the sword is used against the renewable energy industry, probably they will return to traditional energy in 3.5 years,” they said, when the industry’s democrats return to power, it will allow restrictions and environmental investigations.