Who Will Head the Department of Energy?
- Thread starter vanzandt
- Start date
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He said'' never Hillary '',2. On a more modern note[ NOV 12,13,Twitter tweet] he is still bullish, on oil ; 280 billion of Saudi Arabian debt, is killing them.
Why would a President who makes it easier to drill for oil cause a boom in a market that is currently depressed because of an oversupply?
If he does what he says... oil service companies, the purveyors of all things mechanical, will prosper.
Granted, its a big "if", but here's a portion of a speech he gave in N. Dakota:
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A Trump Administration will develop an America First energy plan. Here is how this plan will make America Wealthy Again:
American energy dominance will be declared a strategic economic and foreign policy goal of the United States.
America has 1.5 times as much oil as the combined proven resources of all OPEC countries; we have more Natural Gas than Russia, Iran, Qatar and Saudi Arabia Combined; we have three times more coal than Russia. Our total untapped oil and gas reserves on federal lands equal an estimated $50 trillion.
We will become, and stay, totally independent of any need to import energy from the OPEC cartel or any nations hostile to our interests.
At the same time, we will work with our Gulf allies to develop a positive energy relationship as part of our anti-terrorism strategy.
We will use the revenues from energy production to rebuild our roads, schools, bridges and public infrastructure. Cheaper energy will also boost American agriculture.
We will get the bureaucracy out of the way of innovation, so we can pursue all forms of energy. This includes renewable energies and the technologies of the future. It includes nuclear, wind and solar energy – but not to the exclusion of other energy. The government should not pick winners and losers. Instead, it should remove obstacles to exploration. Any market has ups and downs, but lifting these draconian barriers will ensure that we are no longer at the mercy of global markets.
I guess I'm just dumb, I fail to see how pumping more oil and gas into an oversupplied market somehow makes that market more profitable? The oil service companies are suffering because no-one is drilling. No one is drilling because there's already more oil and gas than is needed. Adding more oil and gas to that equation = more oversupply, even less drilling, and even more pain for oil service companies. What am I missing here?