Who Will Head the Department of Energy?

Discussion in 'Commodity Futures' started by vanzandt, Nov 9, 2016.

  1. vanzandt

    vanzandt

    Oil service stocks should boom.
     
  2. vanzandt

    vanzandt

    T. Boone Pickens predicted Trump would win the White House back in April. Big fan. He's too old though (maybe).
     
    murray t turtle likes this.
  3. Visaria

    Visaria

    Not energy secretary, but i read somewhere a few weeks ago that Carl Icahn was slated to be the Treasury Secretary.
     
  4. JamesL

    JamesL

  5. %%
    He said'' never Hillary '',2. On a more modern note[ NOV 12,13,Twitter tweet] he is still bullish, on oil ; 280 billion of Saudi Arabian debt, is killing them.
     
  6. Sig

    Sig

    Why would a President who makes it easier to drill for oil cause a boom in a market that is currently depressed because of an oversupply?
     
  7. vanzandt

    vanzandt

  8. vanzandt

    vanzandt

    If he does what he says... oil service companies, the purveyors of all things mechanical, will prosper.
    Granted, its a big "if", but here's a portion of a speech he gave in N. Dakota:
    ________________________________

    A Trump Administration will develop an America First energy plan. Here is how this plan will make America Wealthy Again:

    American energy dominance will be declared a strategic economic and foreign policy goal of the United States.
    America has 1.5 times as much oil as the combined proven resources of all OPEC countries; we have more Natural Gas than Russia, Iran, Qatar and Saudi Arabia Combined; we have three times more coal than Russia. Our total untapped oil and gas reserves on federal lands equal an estimated $50 trillion.
    We will become, and stay, totally independent of any need to import energy from the OPEC cartel or any nations hostile to our interests.
    At the same time, we will work with our Gulf allies to develop a positive energy relationship as part of our anti-terrorism strategy.
    We will use the revenues from energy production to rebuild our roads, schools, bridges and public infrastructure. Cheaper energy will also boost American agriculture.
    We will get the bureaucracy out of the way of innovation, so we can pursue all forms of energy. This includes renewable energies and the technologies of the future. It includes nuclear, wind and solar energy – but not to the exclusion of other energy. The government should not pick winners and losers. Instead, it should remove obstacles to exploration. Any market has ups and downs, but lifting these draconian barriers will ensure that we are no longer at the mercy of global markets.
     
  9. Sig

    Sig

    I guess I'm just dumb, I fail to see how pumping more oil and gas into an oversupplied market somehow makes that market more profitable? The oil service companies are suffering because no-one is drilling. No one is drilling because there's already more oil and gas than is needed. Adding more oil and gas to that equation = more oversupply, even less drilling, and even more pain for oil service companies. What am I missing here?
     
  10. vanzandt

    vanzandt

    I could be wrong, it wouldn't be the first time.
    But if Trump is hell bent on making the U.S. 100% energy independent, domestic production has to pick up right?
     
    #10     Nov 17, 2016