How Does Trump Energy Plan Fit Into Overall Energy Market?
The Trump administration has continued to make a big show of U.S. energy independence.
We’ve heard the arguments on coal, and, now to further the push, Interior Secretary Ryan Zinke has announced oil and gas permits on federal lands will be fast-tracked, taking no longer than 30 days to review. He also ordered oil and gas lease sales be held in each state every quarter.
But the global oil market is flooded at the moment, and while prices per barrel have stabilized around $50, they are nowhere near the boom numbers of the early- and mid-2000s.
In fact, Morgan Stanley has signaled that the U.S. needs lower production by another 200,000-300,000 barrels a day — and, they find that unlikely.”
So how does Trump administration energy plan fit into the overall energy market? And is it a prudent play?
To discuss, we’re joined now by Ed Hirs, an energy economist at the University of Houston.