So first of all, the U.S. does already produce almost as much oil and gas as it uses. Second, the world oil market is, at least today, a free market and the ultimate commodity. There is no way for a President to force an oil and gas company to drill, they only do so if the price of oil and gas makes it advantageous for them to do so. Right now, there is more oil and gas than is needed, so the price is lower than is necessary to incentivize more drilling. What mechanism to do you possibly see that would somehow change this dynamic? Trump paying oil companies to drill for oil and simultaneously making it illegal to import oil is about the only way that would play out the way you're envisioning, and even then we're close enough to supplying more oil and gas than we need that in a couple years we'd be back to a glut. Not to mention this whole idea flies in the face of Republicans supposedly "free market", "we don't pick winners and losers" dogma.
WTF does the value of the Ruble have to do with the fact that we have a global oil oversupply and pumping more oil into an oversupplied situation is the opposite of bullish for oil supply companies? Is the U.S. President going to somehow manipulate the value of the Ruble, which is closely tied to the worldwide supply and demand for oil, in a way that will simultaneously allow more oil to be pumped into an oversupplied picture while also causing more drillers to drill? This it getting fantastical here!
Hell I dunno...hahaha Maybe Trump will make everybody buy giant gas guzzling SUV's. That'll save Detroit...Save the Steel industry...no gluts....problems solved. Simple. America's great again.
Except there's a steel glut at the moment as well (http://www.bloomberg.com/news/artic...pplied-commodity-markets-and-it-s-in-shambles). Maybe you all (not you specifically vanzandt) should have thought through a few of these ridiculous ideas before voting?
Rather a lot, in my opinion: it isn't easy to envisage the Ruble recovering much without a substantial increase in the oil price.
I'm missing the connection to U.S. oil drilling equipment suppliers and the fact that adding more oil to an oil glut will provide downward pressure on oil prices, oil equipment suppliers stock prices, and we can add to that list, the value of the Ruble?
%% Most likely will help long term, not that Mr Trump-Pence can jack up the price of oil,oil service, even with black gold on black top road. They [Trump-Pence] do know how to fire people-LOL
You guys still think the oilfield service stocks aren't gonna boom? I told ya so... Trump is gonna do all but shut the EPA down. And wait till the CEO of XOM takes over the State Dept. The world is gonna have $50 oil for the next 2000 years. ____________________________________ MOSCOW — The Russian government announced Wednesday that it will sell nearly 20 percent of its state oil company, Rosneft, to the Swiss commodity trading firm Glencore and the sovereign wealth fund of Qatar. The deal defies expectations that no investor would dare buy a share in the Russian asset, given Western sanctions against the government of President Vladimir V. Putin. But the emergence of foreign money suggests that investors are reassessing the sanctions after the election of Donald J. Trump, who has advocated warming ties with authorities in Moscow and is considering the chairman of Exxon Mobil, Rex W. Tillerson, as a candidate for secretary of state. Mr. Tillerson criticized the sanctions as harmful for business after they halted an Exxon joint venture with Rosneft to drill for oil in the Kara Sea, in Russia’s sector of the Arctic Ocean. The deal will bring Moscow $11.3 billion to help plug a widening budget deficit as Russia fights two wars, in Syria and Ukraine, and has struggled to meet pension payments and public-sector payrolls. The agreement came as a surprise twist in the privatization of Rosneft. With an end-of-the-year deadline looming, no buyers had come forward for the 19.5 percent share in the world’s largest publicly traded oil company, as measured by production and reserves. The apparent lack of bidders was a pessimistic sign for investor interest in Russia. The Russian government had for most of the year planned to sell shares back to the majority state-owned company itself, which would hardly have qualified as a genuine privatization. The United States decided in 2014 to impose sanctions on Rosneft and other Russian companies in response to Russia’s intervention in the war in eastern Ukraine.. The sanctions limit long-term lending and transfer of American technology for drilling offshore and shale oil deposits. The deal carries other risks as well. Both Glencore and the Qatari fund, the Qatar Investment Authority, have extensive investments in emerging markets. The Qatar fund is also an investor in Glencore. The announced price valued Rosneft at $58 billion, slightly less than the company’s stock market value at the close of trading in Moscow on Wednesday, of just under $59 billion. Both the market price of shares and the sale price for the 19.5 percent stake announced Wednesday are a relative bargain, indicating the Russian government’s eagerness to cut a deal to shore up its finances. Rosneft pumps 4.7 million barrels of oil and the energy equivalent in natural gas a day, compared with 4.3 million by Exxon. For comparison, Exxon’s market value was $364 billion during trading Wednesday — six times Rosneft’s value. The two buyers will take equal parts of the stake, the company’s chief executive, Igor I. Sechin, told Mr. Putin in a televised meeting Wednesday. Mr. Putin termed it “the largest privatization deal, the largest sale and acquisition in the global oil and gas sector in 2016.” In a statement, Glencore said it was in “final stage negotiations” over the deal. The company said it would contribute 300 million euros, or $323 million, of its stock to the purchase, with the remainder of the funding coming from the Qatari fund and bank financing. Under the terms, Glencore would gain access to an additional 220,000 barrels a day of Rosneft’s oil to trade. Mr. Sechin credited Mr. Putin for the agreement. “Given the very difficult economic circumstances and the extremely tight deadlines for this kind of project,” Mr. Sechin said, “I can report to you that we were able to land this deal thanks to your personal contribution.” The sale completes a long arc for the Russian energy assets, traced from privatization to nationalization to privatization again, with the timing unfavorable for the Russian citizens who are the company’s majority owner. Under Mr. Putin, the Russian government took oil and gas fields that had been privatized in the early post-Soviet period by companies including Yukos and TNK, and reassembled them under a behemoth state-owned company, arguing that the government should steer policy for these strategic assets. The government effectively nationalized Yukos in lawsuits over unpaid taxes after its founder, the oil tycoon Mikhail B. Khodorkovsky, was jailed on fraud charges brought with political overtones. Rosneft bought the assets of TNK and its foreign partner, BP, for about $60 billion in 2013, when oil prices were still buoyant. Now the government is selling shares into the depressed global oil market for a fraction of what it paid three years ago. A state holding company, Rosneftegaz, is the largest shareholder, with 69.5 percent, which will drop to 50 percent after the sale to Glencore and the Qatari fund. A state property agency holds a voting share to retain majority state control. BP, the British oil giant, owns a 19.75 percent, and the remainder is traded on the London Stock Exchange and in Moscow.
Too bad the earth does not have enough fossil fuel in it to last for another 2,000 years, at the rate we're pumping it out of the ground. Granted, we still have a lot to tap under the ground. But consumption-rate-wise, and the rate of our pulling it out of the ground, compared with what we may have left? We'll be lucky if it doesn't run out by about 2600AD. So mark your calendars, we gots maybe 500 more years of fossil fuel left in the planet. Oh, and guess what...We'll all be dead by then, so who cares? Let the kids deal with it all. So someone please come up with sustainable fusion in the next 500 years, or build a Dyson Sphere around sol. Else the human race is FUBAR.