The most important weapon in President Trump’s arsenal is... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Trump Has an Oil Problem
Trump Has an Oil Problem Trump is pissed, but he’s about to get even angrier. However, it’s not last week's Liberation Day tariff announcements that we’re going to discuss today. President Trump’s war for free trade notwithstanding, he’s in a much tougher position when it comes to energy. Truth is, he’s between a rock and a hard place when it comes to oil. There’s no doubt in any of our minds that President Trump wants lower oil prices — $50 per barrel if he had his way — yet we already talked about why $50 oil is a myth, didn’t we? You and I both know that if we ever truly saw $50/bbl oil, it would be disastrous for the U.S. oil sector. In that event, we would immediately see new projects cancelled and rigs go idle in every oil patch in the country. Companies would go into survival mode like they did a decade ago when crude prices collapsed. All hopes of oil production growth would vanish. If that doesn’t sound foreboding enough, keep in mind that nearly every oil forecast and think tank out there is counting on the United States to shoulder much of the expected global supply growth outside of OPEC+. The problem is that people are far too optimistic, and that creates an interesting opportunity in and of itself. >>> Read the full article here.
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