Impact of the steel and aluminium tariffs on the oil and gas industry

Steel and aluminium tariffs could cause some damage to the US oil and gas industry...

The implementation of new tariffs will disrupt the U.S. oil and natural gas industry’s complex supply chain, compromising ongoing and future U.S. energy projects, which could weaken our national security," said API President and CEO Jack Gerard in a statement.

Gerard added that the tariffs could lead to increased prices in specialty steel and raise costs for domestic production of oil, natural gas and natural gas liquids. That would also come as the price of foreign oil imports are at a major high.

As a result the company said it will be asking for an exemption from the tariffs.

The Interstate Natural Gas Association of America (INGAA) called the decision "deeply troubling" for the future of America's oil and gas pipelines which rely on imported metals.



Share this post

Link to post
Share on other sites
Sign in to follow this  
Followers 0