What's
bad for oil producers, though, turns out to be good for American consumers, who are already benefiting from lower gasoline prices.
If gas prices go up at the pump, you'll pay more to fuel your car, but you'll also record profits from rising stock
prices for oil producers.
In some parts of the country, geological conditions exist that make it
profitable for oil producers to buy carbon dioxide, inject it into wells, and thereby extract more oil.
The problem with this argument is that what is
good for oil producers and exporters is inversely bad for major oil consumers and importers like the United States, Europe, and China in this zero sum game of global energy markets.
With headquarters in London and Houston, the combined company will have roughly $ 23 billion in annual revenue and offer oilfield gear including blowout preventers, pumps, drilling, chemicals, other products and
services for oil producers in 120 countries.
Trump's action, which comes in his fourth full day in office, would be a
boon for oil producers concerned about limited pipeline capacity bringing oil to market.
It doesn't take much tweaking for them to handle bitumen from the oilsands, making it
unnecessary for oil producers to build multi-billion-dollar upgraders in Canada.
This month, Brent crude oil futures climbed above $ 74 a barrel, reaching highs last seen in late 2014 — a welcome
development for oil producers.
U.S. banks are stepping up the frequency of credit
reviews for oil producers as regulators flag the «emerging risk» from the precipitous decline in the commodity's price over the past year.
In 2005, Salazar voted against increasing fuel efficiency standards for cars and trucks; and in the same year voted against repealing tax
breaks for oil producers.
He also noted that OPEC's agreement to cut production «is
positive for oil producers and oil investments all over the world,» including North America.
For oil producers, the supply conditions look even worse.