• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 5 hours https://www.prageru.com/video/whats-wrong-with-wind-and-solar/
  • 3 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 24 hours Here it is, the actual Complaint filed by Dominion Voting Machines against Sydney Powell
  • 16 hours Tonight Twitter took down Trump's personal account permanently. Trump responded on the POTUS account.
  • 23 hours A Message from President Donald J. Trump - 5 minutes from The White House directly
  • 4 hours Researchers Are Harvesting Precious Metals From Industrial Waste
  • 2 days Pollster Frank Luntz released a poll today showing 90% of those that voted for Trump in November would vote for him again.
  • 22 hours CNN's Jake Tapper questions double amputee purple heart recipient GOP Rep's commitment to democracy. Tapper is a disgrace.
  • 2 days Do Republicans like Liz Cheney, Adam Kinzinger, Mitt Romney and now McConnell think voting for Impeachment can save the party ? Without Trump base what is the Republican constituency ? It's over.
  • 2 days a In 2020, we produced and delivered half a million cars.
  • 2 days Trump Supporters Just Handed a Huge Propaganda Victory to China
  • 2 days ICE Engines Hear to Stay Regardless of War Against
  • 2 days Minerals, Mining and Industrial Ecology
Nick Cunningham

Nick Cunningham

Nick Cunningham is an independent journalist, covering oil and gas, energy and environmental policy, and international politics. He is based in Portland, Oregon. 

More Info

Will Trump Open Up New Oil And Gas Reserves?

Friday November 11, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Oil price crash drains billionaires

(Click to enlarge)

- Oil prices retreated sharply last week after the EIA reported a massive buildup in crude oil inventories, a record high gain of over 14 million barrels.
- WTI and Brent crashed from around $50 down to below $45 per barrel.
- The 10 percent loss on the week was the steepest weekly drop since the beginning of the year.
- The price drop erased $4.6 billion in wealth from the world’s top oil billionaires, according to Bloomberg, which include Harold Hamm (potential name for Energy Secretary under a Trump administration), Kelcy Warren and Jeffery Hilldebrand.

2. New oil reserves could be opened up

(Click to enlarge)

- President-elect Donald Trump has not made oil and gas a priority, but when he has talked about the subject he sounds as if he will be a friend to upstream producers.
- Trump could move to open up new territories for oil and gas drilling. The U.S. holds about 232 billion barrels of undiscovered technically recoverable oil and gas reserves on federal lands and along the continental shelf.
- However nearly two-thirds of that…




Oilprice - The No. 1 Source for Oil & Energy News