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Trump plan to boost oil, coal could send prices lower
Topic Started: Nov 15 2016, 02:35 PM (214 Views)
Phoenix One UK
Regular Member
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Quote:
 
Trump plan to boost oil, coal could send prices lower

President-elect Donald Trump has pledged to boost the oil and gas sector and bring back coal, reversing President Barack Obama's efforts to encourage renewable energy and cut dependence on fossil fuels.

But analysts say Trump's policies could serve to worsen the global energy glut, which would reduce prices while doing little to revive the fortunes of "Big Coal."

Trump has made no secret of his support for fossil fuels. His policy advisors include top oil industry lobbyists, fracking king Harold Hamm, and oil-rich North Dakota's congressman Kevin Cramer.

http://www.dailymail.co.uk/wires/afp/article-3937242/Trump-plan-boost-oil-coal-send-prices-lower.html



I can see the pros and cons for this, and expect environmentalists will be up in arms over it, which would not include me. I never did buy into the argument that man is responsible for global cooling, warming, and now climate change. However, I do accept that much of this had been at expense of harming our own planet with pollution a problem that needs addressing. That aside, I also see the merits of using coal again, as that industry had come a long way in improving such pollution. I should further add that the UK, especially Wales, possesses a great supply of coal. Enough to not only meets the UKs energy demands, but provide another export market for the country.
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RoofGardener
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Lord of Plantpots
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Hmmm..... if the USA "boosted its oil and gas (and coal) sector" ... how much practical impact would that have on their fuel imports ?

I would have thought it would take quite a long time to "boost" those sectors ?

I could imagine that in the short term the commodity brokers would panic, along with the markets, but... would that panic last beyond a couple of weeks or months ?
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Dan1989
Regular Member
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RoofGardener
Nov 15 2016, 07:26 PM
Hmmm..... if the USA "boosted its oil and gas (and coal) sector" ... how much practical impact would that have on their fuel imports ?

I would have thought it would take quite a long time to "boost" those sectors ?

I could imagine that in the short term the commodity brokers would panic, along with the markets, but... would that panic last beyond a couple of weeks or months ?
Fracking has reduced their need for overseas gas, it seems to be a big push in America for them to be more independent, so not relying on outside sources.
Edited by Dan1989, Nov 15 2016, 08:11 PM.
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Rich
Senior Member
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Dan1989
Nov 15 2016, 08:10 PM
RoofGardener
Nov 15 2016, 07:26 PM
Hmmm..... if the USA "boosted its oil and gas (and coal) sector" ... how much practical impact would that have on their fuel imports ?

I would have thought it would take quite a long time to "boost" those sectors ?

I could imagine that in the short term the commodity brokers would panic, along with the markets, but... would that panic last beyond a couple of weeks or months ?
Fracking has reduced their need for overseas gas, it seems to be a big push in America for them to be more independent, so not relying on outside sources.
And that is precisely what we should be doing.
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johnofgwent
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It .. It is GREEN !!
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Dan1989
Nov 15 2016, 08:10 PM
RoofGardener
Nov 15 2016, 07:26 PM
Hmmm..... if the USA "boosted its oil and gas (and coal) sector" ... how much practical impact would that have on their fuel imports ?

I would have thought it would take quite a long time to "boost" those sectors ?

I could imagine that in the short term the commodity brokers would panic, along with the markets, but... would that panic last beyond a couple of weeks or months ?
Fracking has reduced their need for overseas gas, it seems to be a big push in America for them to be more independent, so not relying on outside sources.
well, if you had to declare war on a country to stop a less than friendly superpower acquiring its oil reserves by a back door pipeline, wouldn't it make you a little more inward looking for solutions to your energy needs ??

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