The Trump Economy

[RX792P]

Trump then

To the Great Farmers of the United States: Get ready to start making a lot of agricultural product to be sold INSIDE of the United States. Tariffs will go on external product on April 2nd. Have fun!"

Secretary of Agriculture Rollins today

"We are working with our colleagues in Congress and closely monitoring markets daily to evaluate the amount of additional assistance that might be needed this fall,"

Winning?

Remember the last Trump farm fiasco?
New tariffs...spent almost every dollar of those tariffs in billions in aid to farmers to offset losses from that trade war(well, skirmish compared to the current trade war) with China

[RX792P]

duplicate...again...

[Precious_b]

Originally Posted by TalliaThomas

Here's what I do know. I've never struggled to find a job in my civilian industry. Quite literally-- when I put out my resume, I'll generally have a position within 2 weeks.


Just moved back home to Texas. A state that, allegedly, has a booming economy.


I'm now sitting at 8 weeks. Dozens of resumes have been sent out. I've had a grand total of two interviews.


My particular industry is a decent bellwether for the economy-- when times are good, things are great. When times aren't so good, things are awful. I'd consider hobbying again to make up for the long stretch without stable income-- but I'm also hearing how bad it it from many ladies......

I wish more women would contribute here.

MeThinks alot of fragile male egos would be bruised though.

And as can be clearly seen, we've a jackpot of those.

[RX792P]

https://oilprice.com/Energy/Crude-Oi...Fuel-Push.html
Drill baby drill becoming wait baby wait?

ConocoPhillips, Chevron, and other oil majors have announced mass layoffs despite expanding production capacity through multibillion-dollar acquisitions.
Falling oil prices and cautious investor sentiment are forcing companies to cut capital spending and reduce workforces, even as Trump pushes pro-oil policies.
OPEC+ production hikes and U.S. rig declines point to continued pressure on American producers, who require higher oil prices to resume growth.

[RX792P]

https://oilprice.com/Energy/Crude-Oi...Fuel-Push.html
Drill baby drill becoming wait baby wait?

ConocoPhillips, Chevron, and other oil majors have announced mass layoffs despite expanding production capacity through multibillion-dollar acquisitions.
Falling oil prices and cautious investor sentiment are forcing companies to cut capital spending and reduce workforces, even as Trump pushes pro-oil policies.
OPEC+ production hikes and U.S. rig declines point to continued pressure on American producers, who require higher oil prices to resume growth.

[Ducbutter]

Originally Posted by RX792P

https://oilprice.com/Energy/Crude-Oi...Fuel-Push.html
Drill baby drill becoming wait baby wait?

Is the administration doing anything to restrict drilling, policy wise? Are there onerous environmental policies being enacted or enforced by the administration that prevent drilling? Did I miss the executive order putting Trump in charge of when and where oil companies drill? Or is this a decision by the major producers to not increase supply and drive prices down further?

Did you think about any of those questions before you clicked submit?

[RX792P]

Originally Posted by Ducbutter

Is the administration doing anything to restrict drilling, policy wise? Are there onerous environmental policies being enacted or enforced by the administration that prevent drilling? Did I miss the executive order putting Trump in charge of when and where oil companies drill? Or is this a decision by the major producers to not increase supply and drive prices down further?

Did you think about any of those questions before you clicked submit?

Or is this a decision by the major producers to not increase supply and drive prices down further?

Why would oil producers want to drive prices down further? They are already so low that they're laying off people.
Did you think about your question before you posted?

Regards Trump and when/where to drill...
The recently enacted One Big Beautiful Bill Act contains provisions requiring four onshore and two offshore lease sales every year, lowering the minimum royalty rate to 12.5 percent from 16.67 percent and bringing back speculative leasing—when lands that don’t invite enough bids are leased for less money.

Offshore drilling: On his first day, Trump revoked the Biden administration's January 2025 memoranda that banned new oil and gas leasing across vast areas of the Atlantic, Pacific, and eastern Gulf coasts.
Arctic drilling: He also repealed a 2023 memo that barred oil drilling across 16 million acres of the Arctic. In March 2025, Interior Secretary Doug Burgum announced plans to reopen the Arctic National Wildlife Refuge (ANWR) and the National Petroleum Reserve-Alaska for oil and gas leasing.




"The cost of our largest drilling input cost, casing, has increased over 10 percent in the last quarter due to steel tariffs,” Stice, the Diamondback Energy CEO, noted in his letter to shareholders.

[Ducbutter]

Originally Posted by RX792P

Why would oil producers want to drive prices down further? They are already so low that they're laying off people. You misinterpreted my poorly constructed question. Perhaps this might've been better. "Why would oil producers want to lower prices by producing more?" I get that it's not in their interest. That's my point.
Did you think about your question before you posted?

Regards Trump and when/where to drill...
The recently enacted One Big Beautiful Bill Act contains provisions requiring four onshore and two offshore lease sales every year, lowering the minimum royalty rate to 12.5 percent from 16.67 percent and bringing back speculative leasing—when lands that don’t invite enough bids are leased for less money.

Offshore drilling: On his first day, Trump revoked the Biden administration's January 2025 memoranda that banned new oil and gas leasing across vast areas of the Atlantic, Pacific, and eastern Gulf coasts.
Arctic drilling: He also repealed a 2023 memo that barred oil drilling across 16 million acres of the Arctic. In March 2025, Interior Secretary Doug Burgum announced plans to reopen the Arctic National Wildlife Refuge (ANWR) and the National Petroleum Reserve-Alaska for oil and gas leasing. Trump can offer all the leases he wants at the lowest prices imaginable to make drilling more attractive but he cannot compel them to drill or determine the time in which they do so. He can only incentive them. Which he seems to have done. No?




"The cost of our largest drilling input cost, casing, has increased over 10 percent in the last quarter due to steel tariffs,” Stice, the Diamondback Energy CEO, noted in his letter to shareholders.

That 10% increase in the 25% overall well costs aren't as dramatic as you imply and I'm doubting it plays that large a part in the decision to not drill.

[RX792P]

Trump can offer all the leases he wants at the lowest prices imaginable to make drilling more attractive but he cannot compel them to drill or determine the time in which they do so. He can only incentive them. Which he seems to have done. No?

Actually I agree...but Take it up with Trump. He's the one who made the claim.
Jan 20, 2025 Inauguration speech

“We will drill, baby, drill,”

Trump said in his inauguration speech, adding that the US has the

“largest amount of oil and gas of any country on Earth — and we are going to use it.”

That 10% increase in the 25% overall well costs aren't as dramatic as you imply and I'm doubting it plays that large a part in the decision to not drill.

I would opine the Diamondback Energy CEO knows a bit more about well costs than either of us.

[Ducbutter]

Originally Posted by RX792P

Actually I agree...but Take it up with Trump. He's the one who made the claim.
Jan 20, 2025 Inauguration speech
Trump said in his inauguration speech, adding that the US has the


I would opine the Diamondback Energy CEO knows a bit more about well costs than either of us.

So you agree that Trump has done what he can to encourage drilling but the market being what it is has not convinced oil companies to drill more? And that's Trumps fault? Holy shit you are really stretching.
I don't know about you, but I spent a little more than 10 years roughnecking and grew up with a father who was an engineer for oilfield tool manufacturers my whole life so I know that casing costs are around 15-25% of well costs (give or take a couple points). I'm willing to bet I've run more casing than the CEO of Diamond Energy and you combined.

[RX792P]

Originally Posted by Ducbutter

So you agree that Trump has done what he can to encourage drilling but the market being what it is has not convinced oil companies to drill more? And that's Trumps fault? Holy shit you are really stretching.
I don't know about you, but I spent a little more than 10 years roughnecking and grew up with a father who was an engineer for oilfield tool manufacturers my whole life so I know that casing costs are around 15-25% of well costs (give or take a couple points). I'm willing to bet I've run more casing than the CEO of Diamond Energy and you combined.

I will agree that Donald Trump does not have the power over the oil and gas industry that he thought (and claimed) he had.

[Precious_b]

Damn. We better go back to solar/wind/tidal/geothermic energy lest we have another Snomaggeden (sp) like we had in Texas a few years ago. Loved how the free market kicked in and saved all us Rebels...NOT!

[RX792P]

Originally Posted by Precious_b

Damn. We better go back to solar/wind/tidal/geothermic energy lest we have another Snomaggeden (sp) like we had in Texas a few years ago. Loved how the free market kicked in and saved all us Rebels...NOT!

Snowmageddon in TX was largely the result of failures of natural gas powered generation. Unprotected pumps/lines froze.
That's not to say the weather did not decrease solar/wind output, it did...but the solar/wind generation performed to predictions, natural gas generation did not.

Speaking of...electricity prices under the Trump economy, rather than dropping by 50% as he 'promised' he would do (though he's still got some time in his timeframe), but rather have increased 10% or so since his inauguration.

[Ducbutter]

Originally Posted by RX792P

I will agree that Donald Trump does not have the power over the oil and gas industry that he thought (and claimed) he had.

Are you saying that he said that and you were naive enough to believe it?

[Tiny]

Originally Posted by RX792P

Snowmageddon in TX was largely the result of failures of natural gas powered generation. Unprotected pumps/lines froze.
That's not to say the weather did not decrease solar/wind output, it did...but the solar/wind generation performed to predictions, natural gas generation did not.

ERCOT, who manage something like an air traffic control system for the electric grid in Texas, was the culprit. People with midstream gas companies were screaming at ERCOT from the top of their lungs that it had to maintain electric supply to the oilfield and gas plants. And ERCOT ignored them and prioritized residences instead. The dumb asses refused to realize when they shut off the electricity, the compressors and wells would go down, and we'd be truly fucked.

I drove from Dallas to Lubbock by way of Sweetwater right in the thick of the deep freeze, the worst day. That area has a higher concentration of wind generation than anyplace in Texas. There wasn't any wind to speak of on that day. The windmills weren't turning.