Quote:
Originally Posted by balletomane
Without hopefully starting a political debate, I agree that the oil and gas industry should benefit under Trump. It's hard to say if oil prices will increase in the coming years or if $50/barrel will be the new normal, and if they do will they even reach pre-2014 levels?
Regardless of what the price of oil is, it sounds like those pipelines will be built, which should at least greatly benefit the construction industry in oil towns.
|
Of course, it depends what you mean by "benefiting under Trump." Despite the incredible boom in US oil production, the conservative critique of the prior administration was that it was TOO restrictive on drilling (DRILL BABY, DRILL!). In a world already flush with oil, driving US production even higher through loosened drilling restrictions would likely drive prices even lower. For high priced production areas such as the Canadian oil sands, the near and mid-term prognosis is looking pretty bleak.