“Which side are you on?”: Oil companies demand Trump to curb falling prices

March 26 2020 12

The collapse of energy prices due to the coronavirus crisis, combined with the refusal of Saudi Arabia and Russia to limit oil production, will lead to the collapse of about half of US shale companies.

In addition, according to analysts at Raymond James Inc, in the long term the situation threatens with the loss of thousands of jobs and a blow to US energy independence. It is reported by the American publication Politico.

After President Donald Trump has repeatedly declared full support for US oil companies, his current position raises more and more questions among oil workers.

Recall that on March 9, the head of the White House wrote on his Twitter page:

Gas prices are falling, which is good for the consumer.

Already, Trump's popularity has fallen quite strongly in Texas - up to 45%, according to a survey by the University of Texas.

The White House administration does not understand that the US oil industry will eventually cease to exist when the price of oil is below $ 30

Says Dan Eberhart, CEO of Canary LLC, a Denver oilfield services firm and a major Republican party donor.

According to a Politico source, Trump, in conversation with the Saudi crown prince, expressed his agreement with the kingdom’s plans to produce more oil in order to try to squeeze Russia out of some markets.

What the hell does that mean? Do you understand that this leads to excessive pressure on one of the most important resources economics our country

- indignant one of the major lobbyists of the US oil industry, who wished to remain anonymous.

Which side are you on?

- Summed up the claims of American oil companies to Trump, the publication Politico.

According to some industry leaders, Trump either does not fully recognize the threat, or does not want or cannot eliminate it.

The editorial staff concludes that if Trump cannot curb the fall in oil prices, then for him it will end with the loss of hundreds of thousands of votes belonging to industry workers, which will make it impossible for him to win the upcoming presidential election.

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Ivan Ivanov_18

+1

26 March 2020 14: 05

Well, and the Arkharovites convinced us that he was a fsa!, And their master had chic, brilliance and beauty. Really lied? But liberals are therefore shaking hands because they are not polite.
Ivan Ivanov_18

0

26 March 2020 14: 08

If Trump fails to curb the fall in oil prices

How? Will they bomb the wells and refineries of their desert libels?
Eduard Aplombov

+1

26 March 2020 14: 31

I don’t want to argue, but the States have a margin of safety higher than ours, alas, they can maintain their balance even without their oil, and we, I don’t even know how much we have, people, of course, will tighten the belt, but without landing thieves, liberal Jews , oligophrenics with their offshore, trouble will begin to progress.
1. Arkharov
  
  -4
  
  26 March 2020 16: 56
  
  Have you forgotten to mention yourself, the marginal and the lumpen proletariat?
Ivan Ivanov_18

-1

26 March 2020 14: 43

The collapse of energy prices due to the coronavirus crisis, combined with the refusal of Saudi Arabia and Russia to limit oil production, will lead to the collapse of about half of US shale companies.

Maybe a refusal to limit oil production is a response to the hegemon's attempt to become a world gas station?
1. Alexander Semenov
  
  0
  
  26 March 2020 16: 01
  
  What is happening in the world is just the first steps, a far-reaching game ... more surprises await us more than the price of oil or coronavirus. Those who win all the strings or influence, the rest losers, will win as always ...
2. Arkharov
  
  -2
  
  26 March 2020 16: 57
  
  There are enough world gas stations without it.
  1. Ivan Ivanov_18
    
    +2
    
    26 March 2020 18: 05
    
    So tell this to your deity.
Arkharov

-2

26 March 2020 16: 54

The American multimedia publication Politico has published a whole article about the Soviet experience of life in the conditions of a shortage of toilet paper.

POLITICO advises Americans to use newspapers, books, or regular tap water instead of toilet paper. It sounds incredible, but the publication specializing in political journalism did not forget to mention even leaves and burdocks.

It is reported by Rambler.
1. Ivan Ivanov_18
  
  0
  
  26 March 2020 18: 12
  
  The hegemon is closely following the comments on Russian resources.
  At first, a joke appeared on InoSMI that hamster wrestlers work for cookies, and a year and a half later, Nuland's grandmother distributed these cookies to non-slaves on Maydaun.
Xuli (o) Tebenado

-1

27 March 2020 11: 22

The collapse of energy prices due to the coronavirus crisis, combined with the refusal of Saudi Arabia and Russia to limit oil production, will lead to the collapse of about half of US shale companies.

As far as I know, all the risks of American shale companies are insured for at least a year, therefore, they can sit for a year and see how it ends, without losing a dollar.

PS Somewhere recently I read an interesting fact: in the USA, 1 liter of gasoline at a price equal to 1 liter of drinking water: for Russian money at the current rate = 27 rubles.
1. Bakht
  
  +3
  
  28 March 2020 12: 05
  
  This is a really interesting fact. Non-renewable resource oil is sold at the price of water.
  There is another interesting fact. The world spent 100 million barrels of oil per day. We divide this by the number of people and we get that every day (EVERY) a person on earth needs 2 liters of oil. It seems that the same amount of water is needed. Can humanity live without 2 liters of water per day? Or without 2 liters of oil?
  ------
  As for the insurance of shale companies. I already wrote. Yes, they will not go broke. But the banks that insured them will go bankrupt. What's on the forehead, what's on the forehead. Shale companies will close (tens of thousands of unemployed), social benefits, insurance, unemployment benefits. Plus huge problems with banks.
  So, the collapse of the shale industry is a big (huge) problem for the US financial system. I just can’t get an answer to the question why the US Treasury Secretary Mnuchin met with the Russian ambassador and spoke about stability in the energy market? The finance minister had nothing to talk about? Not about finance, not about the dollar. It is about oil. He probably knows a little more than you and me.