This is a false premise. Actual expansion of oil and gas production does lower those commodity prices, but policies/events so far raise them.
Maximizing strategic oil reserve holdings
LNG export infrastructure, especially if he can extort international customers to buy/divert from US consumption.
KSA vowing to invest $600B in US is a bribe to keep oil prices high. That enables funding their investment. KSA investments in past have been in non-oil industries.
Banning wind and EV adoption means more FF use/demand.
AI datacenters in US only, or massive funding for US ones, is more FF use.
unlikely but forced extra sanctions on Russian energy
possible regulation removal on capturing or even flaring NG from oil deposits would be aweful.
The false premise is that letting O&G pollute everything, doesn’t make it “smart” for them to overproduce, and if they do drill more, than KSA/opec can ramp up production to take more share before they come online. Producing just enough extra to keep up with demand and $70+/barrel pricing is likely.
EVs globally are eating into oil demand. China has also converted many trucks/heavy vehicles to LNG. NG and coal demand in Europe down over 10% in 2024. Peace in Ukraine would be the most significant drop in oil/diesel use foreseeable.
This is a false premise. Actual expansion of oil and gas production does lower those commodity prices, but policies/events so far raise them.
The false premise is that letting O&G pollute everything, doesn’t make it “smart” for them to overproduce, and if they do drill more, than KSA/opec can ramp up production to take more share before they come online. Producing just enough extra to keep up with demand and $70+/barrel pricing is likely.
EVs globally are eating into oil demand. China has also converted many trucks/heavy vehicles to LNG. NG and coal demand in Europe down over 10% in 2024. Peace in Ukraine would be the most significant drop in oil/diesel use foreseeable.