Sign in to follow this  
Followers 0
JM

Does the Federal Government and Oil & Gas Commissions need to tell the oil and gas industry to cut production

Recommended Posts

There is an unprecedented drop in oil demand in the United States by over 3 million bbls and production was in the 10 million bbls a day category last month.  So, it is a bit of a head scratcher that the Trump Administration, along with the Texas RR Commission, and industry CEOs are giving in to the Saudi-Russia cartel. At this time these two countries are "the" cartel and they're demanding the U.S. join in the dance to cut crude.  I say this is a bunch of BS contrived by many inside and outside the industry to reign in small producers?  The EIA advised zero exports going out from the U.S. and oil prices are crashing again today.  

The United States oil and gas producers are not going to recover from this downturn since it is based on back room discussions with enemies of U.S. crude, joined by our own government, federal and states, along with industry leaders who want to be a part of the big picture once the small operators are no more.

I hope this isn't the case, but it's looking like the praise for "energy independence" by the Trump Administration is no more and the Administration could care less as did all past Administrations.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  
Followers 0