Tom Kirkman + 8,860 January 29, 2020 The political topic of U.S. oil & gas and LNG will likely start heating up in the second half of this year, as Democrat candidates will likely try to outdo each other on just how much they propose to totally annihilate the U.S. oil & gas industry. Their respective versions of the Green New Deal and other such Socialist nonsense. Presidential Race Threatens Headwinds for Energy Sector Oil markets may be underestimating the risks to U.S. energy production and export growth from the upcoming 2020 U.S. presidential election, analysts tell S&P Global Platts. If a Democrat wins in November, they expect the incoming administration will likely introduce new regulations limiting hydraulic fracturing, flaring, offshore drilling, and possibly exports, but it remains unclear how far these threatened initiatives may go. ... ... Noted is that among the highest-polling candidates, populists Sen. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) have pushed hardest for policies aimed at severely limiting the U.S. oil sector, including a ban on exports, hydraulic fracturing, and leasing in federal waters. Other candidates, including frontrunner Joe Biden, have taken a more measured approach, not committing to all-out bans, but indicating that new limits and additional regulation would be considered. “If Trump wins it is status quo, but any Democrat—even if it’s not a populist—would be under tremendous pressure to throw the base a bone, and this is a bone they would throw,” said Bill O’Grady, Confluence Investment Management chief market strategist. ... ... The buildout of significant U.S. Gulf Coast pipeline infrastructure during the Trump administration further incentivized U.S. production by de-bottlenecking West Texas oil plays and propelled U.S. crude output and exports to record heights in 2019. ... ... On average, about a quarter of U.S. crude oil production was exported each week in 2019. With U.S. refineries maxed out on how much light, sweet crude they are willing to take, an export ban would likely flood local storage capacity and force producers to cut output or risk glutting the market. ... Quote Share this post Link to post Share on other sites
Douglas Buckland + 6,308 January 29, 2020 “.. On average, about a quarter of U.S. crude oil production was exported each week in 2019. With U.S. refineries maxed out on how much light, sweet crude they are willing to take, an export ban would likely flood local storage capacity and force producersto cut output or risk glutting the market. ...” How much oil is the US presently IMPORTING? 1 Quote Share this post Link to post Share on other sites
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