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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Author: wzambon ✶❂🐝 BRONZE
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Number: of 84351 
Subject: Drill, Baby Drill (just kidding!)
Date: 05/11/25 8:31 PM
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President Donald Trump promised to unleash an energy renaissance that would lock in U.S. dominance over oil and gas. But that is not how things are working out for America’s drillers, fracking firms and equipment suppliers, including the company founded by Trump’s own energy secretary.
The market value of Liberty Energy has fallen by nearly half since its former CEO, Chris Wright, joined Trump’s Cabinet. The company reports it is among many in the industry struggling with the challenges heightened by Trump’s agenda, including “tariff impacts, geopolitical tensions, and oil supply concerns.”
Three months into the new administration, the price of U.S. oil has plunged to below the drilling profitability threshold of about $65 per barrel and the industry is ailing. At the same time, the U.S. energy economy is being further destabilized by White House attacks on clean power. It is a stark reversal from last year, when the United States was rocketing ahead on clean energy projects, pushed by government, and oil industry executives were brimming with optimism amid record production.

Companies are opting not to add new wells out of fear they will lose money. The number of active rigs in Texas is lower now than it has been since the nation was climbing out of the pandemic. The president’s tariffs are meanwhile driving up costs in U.S. oil fields, leaving firms hesitant to invest in expanding production.

washingtonpost.com - Oil price energy tariffs trump

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This community has written 84,309 posts about US Policy. The article-length ones it recommended most:
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