"Drill baby drill" on hold?

[berg80]

Trump trade war uncertainty threatens U.S. oil production​

President Donald Trump’s trade war has thrown the oil market into deep uncertainty, triggering wild swings in crude prices, undermining investor confidence and jeopardizing domestic production.

U.S. crude oil hit a low of $55.12 on Wednesday, down 23% from the closing price on April 2 when Trump announced his sweeping plan to slap tariffs on more than 180 countries. The rapid pullback in prices threatens the president’s “drill, baby, drill” agenda as companies will struggle to boost output at profit.

But West Texas Intermediate staged a comeback after Trump suddenly reversed course Wednesday, announcing a 90-day pause on high tariffs for most trade partners with the exception of China. The U.S. benchmark swung 13% from its session low to close at $62.35 in response.

https://www.cnbc.com/2025/04/10/trump-trade-war-uncertainty-threatens-us-oil-production.html

There are all sorts of unintended consequences from trump's buffoonery.

 

[Mashmont]

Trump trade war uncertainty threatens U.S. oil production​

President Donald Trump’s trade war has thrown the oil market into deep uncertainty, triggering wild swings in crude prices, undermining investor confidence and jeopardizing domestic production.

U.S. crude oil hit a low of $55.12 on Wednesday, down 23% from the closing price on April 2

So Trump lowered gasoline prices at the pump, giving consumers relief from the Biden inflation. Thanks for recognizing. Excellent job, Mr. President!

 

[MagicMike]

So Trump lowered gasoline prices at the pump, giving consumers relief from the Biden inflation. Thanks for recognizing. Excellent job, Mr. President!

Sycophant much?

 

[Mashmont]

Sycophant much?

Just complimenting your boy for praising Trump.

 

[berg80]

So Trump lowered gasoline prices at the pump, giving consumers relief from the Biden inflation. Thanks for recognizing. Excellent job, Mr. President!

Hilarious!

 

[MagicMike]

Just complimenting your boy for praising Trump.

Sounds like hearing words of praise for Trump kind of arouses you.
Your TDS is severe.

 

[Zincwarrior]

Trump trade war uncertainty threatens U.S. oil production​

President Donald Trump’s trade war has thrown the oil market into deep uncertainty, triggering wild swings in crude prices, undermining investor confidence and jeopardizing domestic production.

U.S. crude oil hit a low of $55.12 on Wednesday, down 23% from the closing price on April 2 when Trump announced his sweeping plan to slap tariffs on more than 180 countries. The rapid pullback in prices threatens the president’s “drill, baby, drill” agenda as companies will struggle to boost output at profit.

But West Texas Intermediate staged a comeback after Trump suddenly reversed course Wednesday, announcing a 90-day pause on high tariffs for most trade partners with the exception of China. The U.S. benchmark swung 13% from its session low to close at $62.35 in response.

https://www.cnbc.com/2025/04/10/trump-trade-war-uncertainty-threatens-us-oil-production.html

There are all sorts of unintended consequences from trump's buffoonery.

Its a two hit whammy.

If WTI is too low its not economically viable to develop and lift reserves.
Additionally with tariffs on foreign equipment and steels, this impacts the costs for that development.

 

[berg80]

Sounds like hearing words of praise for Trump kind of arouses you.
Your TDS is severe.

Interpreting what I wrote as praise shows the ability of trumples to distort reality to suit them.

 

[berg80]

Weaker confidence​

U.S. crude oil fell more than 4% on Thursday to under $60 a barrel as traders focused Trump’s decision to hike tariffs on China to an eye-watering 125%. And it’s unclear how negotiations with the dozens of countries that have gotten a reprieve will pan out.

The WH just clarified the tariffs on China are now 145%. There might as well be an embargo.

 

[jwoodie]

There are all sorts of unintended consequences from trump's buffoonery.

Your posts are increasingly inane.

 

[Zafira Cherry]

Trump trade war uncertainty threatens U.S. oil production​

President Donald Trump’s trade war has thrown the oil market into deep uncertainty, triggering wild swings in crude prices, undermining investor confidence and jeopardizing domestic production.

U.S. crude oil hit a low of $55.12 on Wednesday, down 23% from the closing price on April 2 when Trump announced his sweeping plan to slap tariffs on more than 180 countries. The rapid pullback in prices threatens the president’s “drill, baby, drill” agenda as companies will struggle to boost output at profit.

But West Texas Intermediate staged a comeback after Trump suddenly reversed course Wednesday, announcing a 90-day pause on high tariffs for most trade partners with the exception of China. The U.S. benchmark swung 13% from its session low to close at $62.35 in response.

https://www.cnbc.com/2025/04/10/trump-trade-war-uncertainty-threatens-us-oil-production.html

There are all sorts of unintended consequences from trump's buffoonery.

guess what?
Zincwarrior as well... triple whammy

Maybe Jared can assist ? He took all that Arab money

Saudi will not waste a Trump-fueled oil crisis ​

Riyadh issued its first warning shot the day after Trump's tariff announcement as financial markets entered freefall.
Saudi Arabia and seven other OPEC+ members caught traders off-guard with a decision to accelerate the planned unwinding of the first tranche of 2.2 million bpd of production cuts. The decision will add 411,000 bpd to global supply in May, even though the market is already well supplied.

2014 REDUX? ​

The current moment might feel similar to 2014.

That year, Saudi Arabia memorably flooded the market with oil to try to overwhelm upstart U.S. shale competitors and reassert its supremacy. Brent crude prices more than halved in the six months to January 2015 to $51 a barrel, leading to a protracted slowdown in new investments.
There are certainly common elements today.
U.S. shale producers require an average U.S. oil price of $65 a barrel to drill a new well, a survey, opens new tab conducted by the Federal Reserve Bank of Dallas showed. Western Texas Intermediate (WTI) prices traded below $60 on Wednesday.

So if oil prices persist at their current levels for a sustained period, many U.S. producers will be forced to scale back operations, especially given that drilling costs look set to rise due to Trump's tariffs on steel and equipment.

https://www.reuters.com/business/energy/saudi-will-not-waste-trump-fuelled-oil-crisis-bousso-2025-04-08

 

[okfine]

So Trump lowered gasoline prices at the pump, giving consumers relief from the Biden inflation. Thanks for recognizing. Excellent job, Mr. President!

Bullshit. Price per gallon is up.

 

[Rambunctious]

Trump trade war uncertainty threatens U.S. oil production​

President Donald Trump’s trade war has thrown the oil market into deep uncertainty, triggering wild swings in crude prices, undermining investor confidence and jeopardizing domestic production.

U.S. crude oil hit a low of $55.12 on Wednesday, down 23% from the closing price on April 2 when Trump announced his sweeping plan to slap tariffs on more than 180 countries. The rapid pullback in prices threatens the president’s “drill, baby, drill” agenda as companies will struggle to boost output at profit.

But West Texas Intermediate staged a comeback after Trump suddenly reversed course Wednesday, announcing a 90-day pause on high tariffs for most trade partners with the exception of China. The U.S. benchmark swung 13% from its session low to close at $62.35 in response.

https://www.cnbc.com/2025/04/10/trump-trade-war-uncertainty-threatens-us-oil-production.html

There are all sorts of unintended consequences from trump's buffoonery.

Oil and gas prices are dropping fast....

 

[Woodznutz]

Bullshit. Price per gallon is up.

Seasonal changeover?

 

[Missouri_Mike]

Trump trade war uncertainty threatens U.S. oil production​

President Donald Trump’s trade war has thrown the oil market into deep uncertainty, triggering wild swings in crude prices, undermining investor confidence and jeopardizing domestic production.

U.S. crude oil hit a low of $55.12 on Wednesday, down 23% from the closing price on April 2 when Trump announced his sweeping plan to slap tariffs on more than 180 countries. The rapid pullback in prices threatens the president’s “drill, baby, drill” agenda as companies will struggle to boost output at profit.

But West Texas Intermediate staged a comeback after Trump suddenly reversed course Wednesday, announcing a 90-day pause on high tariffs for most trade partners with the exception of China. The U.S. benchmark swung 13% from its session low to close at $62.35 in response.

https://www.cnbc.com/2025/04/10/trump-trade-war-uncertainty-threatens-us-oil-production.html

There are all sorts of unintended consequences from trump's buffoonery.

The left for four years of Bidumb- It’s not our policies making gas so expensive. It’s those greedy oil companies ripping us off!

The left now- Trumps policies are causing the poor oil companies to lose money!

 

[bendog]

The left for four years of Bidumb- It’s not our policies making gas so expensive. It’s those greedy oil companies ripping us off!

The left now- Trumps policies are causing the poor oil companies to lose money!

Wall St is giving a recession about a 50% chance, so corporations probably don't see expansion as a good move. And that's why Trump is an idiot, or one of them. He sees the problem, but his answers are back in the 80s.

 

[kyzr]

Why do we need "drill baby, drill" if oil prices are falling?? DUH.

If oil prices are increasing then we "drill, baby drill".

 

[Hollie]

Sycophant much?

Your hurt feelings at another Trump success are just precious.

 

[Rawley]

Interpreting what I wrote as praise shows the ability of trumples to distort reality to suit them.

Reality os that no oil company has scrapped any of their plans for drilling.

It is quite disturbing how you and you cult cheer for failure of our economy.

 

[MagicMike]

Your hurt feelings at another Trump success are just precious.

What success would that be cultist?