Needless to say Trump’s Victory will be a major boon to the oil and gas industry. Trump is a big supporter of the domestic energy whether it’s oil, NatGas, or coal. These industries will certainly see almost unlimited opportunities.
While campaigning Trump commented numerous times that he wants U.S. energy independence by 2022. We certainly have the oil, gas and coal to meet all of our energy needs for centuries. Along with discussing energy independence, Trump spoke about naming Harold Ham, Chairman of Continental Resources, to be the energy secretary. It remains to be seen if this will happen, but the fact that a major figure in the oil and gas industry will be consider is good news for the industry.
Part of the energy independence goal should be to expedite the construction of NatGas pipelines. FERC has given approval to a number of these pipelines that have been affected by the over-reach of the DOJ. The Dakota Access Pipeline is a good example of this.
Best news of about the energy independence goal will be the thousands of good paying jobs that will be created. Everyone knows that the oil industry jobs along with a very good salary also included healthcare and 401K’s.
We’ll be monitoring the naming of the energy secretary as well as any of the lifting of regulations. Stay tuned for more information.