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Tuesday, January 9, 2018

President Trump is Opening Things Up for Oil Drillers; Now the Pressure is on Them

From Forbes:
Back in the late 1980s and early 1990s, pickup trucks all over the U.S. oil patch could be seen sporting a bumper sticker that read "Lord, please just give me one more oil boom and I promise not to mess it up." 

Fast forward to 2017 and the first few days of 2018, and the oil and gas industry is being handed the first half of that plea by the Trump Administration in the form of radical shifts from the Obama-era energy and environmental policies of the previous 8 years. For its own sake, those in the U.S. oil and gas industry today had better take the promise made in that bumper sticker slogan very seriously. Because if the industry messes this opportunity up, there will be hell to pay the next time the voters decide to put a Democrat in the White House, an inevitability that could come about as soon as 2020. 
In just the last week, the Department of the Interior has presented the industry with three major policy reversalsthat will make it easier and more efficient to conduct drilling and exploration activities on federal lands and in federal waters, but also present major opportunities for the industry to mess things up:
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