The EPA proposed updates to the prior administration’s national standards for the oil and natural gas industry. The proposal would remove duplicative regulations and save the industry millions of dollars in compliance costs each year – while maintaining health and environmental regulations on oil and gas sources that the agency considers appropriate.
These rollbacks are good for many reasons. One, the Obama administration made the desition based on feelings and not on facts, that climate change is based on human production and use of fossil fuels, and not on the long-standing fact that the earth has always experienced changes in climates patterns. Two, it’s good for the economy, it helps keep Americans working. And it keeps America energy independent.
Congressional leaders and stakeholders had the following to say:
U.S. Senator John Barrasso (WY), Senate Environment and Public Works Committee Chairman: “The Trump Administration is working to make sure regulations are justified. The state of Wyoming already regulates methane emissions from oil and gas production. There’s no need for Washington to pile on. I will work with Wyoming to evaluate the Environmental Protection Agency’s new proposal. We need commonsense rules that protect our air without hurting our economy.”
We dodged a slowdown? – Before the attacks on the desert Kingdom
Before the drone attacks occurred on the dictators from desert Kingdom, the U.S oil sector was on a slow-paced downwards momentum. U.S rig count was pointing towards, less drilling, thus the industry was witnessing the telltale signs of contraction in the oil sector, they were pointing towards an oilfield slowdown or even correction. Compounded with the fact of most Working-class Americans are being uneasy about the Union Workers Protest, a trade war with China and all the talk about a recession. Keep those resumes updated.
The Texas Oilfield Slowdown Is Approaching
Explorers and producers are constrained by the reduction in capacity for borrowings and an increase in the cost of capital. Also, explorers are facing constant pressure from investors so that they focus more on providing higher returns instead of production growth. These headwinds are likely to lower investments by explorers and producers in the land market of North America. Hence, conservative customer spending is going to hurt the demand for the company’s oilfield services.
Halliburton, the biggest players in the oilfield services sector is wasting no time cutting back it’s U.S Fracking workforce.
Halliburton believes operators will focus more on production optimization, surface efficiency and getting more out of wells already producing or set for completion. Miller pointed to the company’s success in the early part of the year with electronic submersible pumps and other.
Forbes.com If we look at the Texas year-over-year gains over the past few years, there has been a noticeable slowdown in oil production growth.
The oil-rich Permian basin is slowing – Bad News For Halliburton?