President Donald Trump is urging oil producers to “drill, baby, drill.” U.S. oil and gas investors may not be on board with the plan.
“Right now, with low oil prices, I think we’re going to start to see a lot of companies starting to pare back on their capital spending,” said Clark Williams-Derry, an energy finance analyst at the Institute for Energy Economics and Financial Analysis.
The U.S. is already producing more crude oil than any other nation in history. In December 2024, U.S. oil and gas firms produced more than 13.49 million barrels of crude per day. That’s an all-time high rate of production, according to U.S. Energy Information Administration records.
High rates of production tend to lower prices, which benefits consumers. But if prices drop too far, affecting producers’ profits, they may stop drilling.
That hesitation is probably the exact reason trump is about to start a war with iran. First day of that conflict and oil would shoot up to $200 a barrel.
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President Donald Trump is urging oil producers to “drill, baby, drill.” U.S. oil and gas investors may not be on board with the plan.
“Right now, with low oil prices, I think we’re going to start to see a lot of companies starting to pare back on their capital spending,” said Clark Williams-Derry, an energy finance analyst at the Institute for Energy Economics and Financial Analysis.
The U.S. is already producing more crude oil than any other nation in history. In December 2024, U.S. oil and gas firms produced more than 13.49 million barrels of crude per day. That’s an all-time high rate of production, according to U.S. Energy Information Administration records.
High rates of production tend to lower prices, which benefits consumers. But if prices drop too far, affecting producers’ profits, they may stop drilling.
More: [https://cnb.cx/43r72Fn](https://cnb.cx/43r72Fn)
That hesitation is probably the exact reason trump is about to start a war with iran. First day of that conflict and oil would shoot up to $200 a barrel.