{"id":22296,"date":"2016-12-19T21:04:22","date_gmt":"2016-12-20T02:04:22","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22296"},"modified":"2016-12-19T21:04:22","modified_gmt":"2016-12-20T02:04:22","slug":"trumps-oil-price-dilemma","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22296","title":{"rendered":"Trump\u2019s Oil Price Dilemma"},"content":{"rendered":"

Trump\u2019s Oil Price Dilemma<\/a><\/h3>\n\"Trump<\/picture>\n
\n

President-elect Donald Trump has started naming his picks for key administration offices, and it looks like he is beginning to assemble a team to deliver on at least part of his campaign promises of\u00a0An America First Energy Plan<\/a>.<\/p>\n

Trump\u2019s agenda includes lifting restrictions and opening onshore and offshore leasing on federal lands, eliminating the moratorium on coal leasing, and opening shale energy deposits. The President-elect\u2019s key arguments for these policies are creating high-paying jobs, lessening and even eliminating America\u2019s energy dependence, increasing tax revenues, and adding billions of dollars in economic activity.<\/p>\n

Even if Trump were to deliver on all his pledges – as far as federal law and federal regulations are concerned – the U.S. oil production would be driven by the market\u2014the economics of the supply and demand that determine the prices of oil.<\/p>\n

At the time of Trump\u2019s inauguration on January 20, OPEC and a dozen non-OPEC nations are set to begin to reduce crude oil supply with the purpose of killing the global glut and lifting oil prices. Ideally, OPEC\/NOPEC taking 1.8 million bpd off the market would speed up the drawdown in global stockpiles and prop up prices.<\/p>\n

In reality, few expect OPEC to stick to its commitments and cut as much as promised.<\/p>\n

Still, oil prices are now north of US$50, and OPEC (even if some members cheat) may be able to talk prices up a month or so more. American production has been suffering the consequences of the two-year oil price rout, but if oil stays over US$50 for longer, it would entice more U.S. producers to return to work. Oil prices at US$60 or more would lead to even more confidence among U.S. producers\u2014producers who are now \u2018leaner and meaner\u2019 and carefully choosing how to invest.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Trump\u2019s Oil Price Dilemma President-elect Donald Trump has started naming his picks for key administration offices, and it looks like he is beginning to assemble a team to deliver on at least part of his campaign promises of\u00a0An America First Energy Plan. Trump\u2019s agenda includes lifting restrictions and opening onshore and offshore leasing on federal […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[7844,8227,588,592,9993,600,14603,827],"class_list":["post-22296","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-donald-trump","tag-energy-independence","tag-oil","tag-oil-price","tag-oilprce-com","tag-opec","tag-tsvetana-paraskova","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22296"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22296\/revisions"}],"predecessor-version":[{"id":22297,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22296\/revisions\/22297"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}