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Except for all indications the opposite would be true. A second Trump term would have caused investors to run for the hills, confident theGood point about inflation, that would have still pushed up prices regardless of what else was going on in the oil industry. The supply chain issues aren't helping at all, at all! But I'll stick with my "Lower" vote, just because of how a second Trump term would be more favorable to the oil industry.
G.O.P. would not hold the white house after such disasterous two terms (or do you exist in an alternate reality?). Forward looking, investors
in petroleum production would expect "the facilitation" of the Trump Admin., which had not inspired them, anyway, would experience policy
reversals and flat demand resulting from the move away from ICE.
Permian Basin leads decline in U.S. oil and gas rig count
After increasing by 14 last week, the rig count has resumed its decline.
www.chron.com
"...The Permian Basin led declines this week, with the West Texas oilfield losing a net nine rigs.
The U.S. rig count has plunged by more than 25 percent in the last 12 months as operators have pulled back due to a slowdown in the sector. An oil price slump that has kept oil prices below $65 per barrel through much of 2019, as well as a decline in spending by Wall Street investors, has tightened budgets throughout the sector and put downward pressure on business activities.."
Wyo drilling rig count triples during Biden leasing pause - WyoFile
Drilling permits issued in Wyoming almost doubled in the last five months when the federal government held no oil and gas lease sales.
wyofile.com
"...During the ongoing pause, the Wyoming Oil and Gas Conservation Commission has granted 1,984 drilling permits to energy companies, according to commission records. That’s almost double the 1,059 issued during the same five months — February to June — in 2020.
The activity somewhat erodes fearful statements exclaimed by the energy industry, its supporters and communities reliant on extraction that followed Biden’s executive order in January.
The Bureau of Land Management stopped at least two scheduled lease sales in Wyoming this year, sales that historically have earned Wyoming millions of dollars earmarked for education and other services. But the industry has ample federal leases to develop, according to a 41-page report by the Conservation Economics Institute. The Natural Resources Defense Council funded the study, which was endorsed by various conservation groups, including Wyoming’s Powder River Basin Resource Council.
The CEI report downplays the importance of federal land development, which it says accounts for only 6% to 8% of domestic oil and gas production respectively. Further, of hundreds of counties in the Intermountain West, Wyoming has nine of the 15 with the highest number of federal leases sold in the last five years. Wyoming has enough untapped, leased federal property to sustain drilling for 67 years, the CEI report states..."