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The U.S. Pipeline Industry Is Booming

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Trump Tries to Woo Colorado Oil, Gas Executives

Oil rig sunset

Donald Trump will be trying to convey his support to the Colorado oil and gas industry as he meets with executives in Denver on Tuesday, after energy leaders were somewhat baffled by his remarks on fracking a couples of months ago.

Trump’s Tuesday private meeting in Denver took place at the offices of K.P. Kauffman Company, an oil and gas drilling company and a major GOP donor, and included a lot of the largest names in the industry, according to the Denver Post.

In an interview with a Colorado television station in late July, Trump said “I’m in favor of fracking,” but added “I think that voters should have a big say in it”.

These comments, apart from straying from the Republican agenda and siding Trump with the Democrat candidate Hillary Clinton on the issue, had puzzled the fracking industry. An unfortunate coincidence for Trump is that fracking is a hot topic in swing states such as Colorado and Pennsylvania.

A few weeks later, Harold Hamm, Trump’s potential energy secretary appointee and CEO of Continental Resources (NYSE:CLR) was quick to take back Trump’s comments that state and local governments should be free to regulate fracking.

Related: Oil Holds Gains After OPEC Deal

Then last month, Trump addressed the annual Shale Insight conference in Pittsburgh, vowing to adopt an 'America-First energy plan' that would lift limits on drilling and mining of federal lands.

“All unnecessary regulations will be eliminated and a temporary moratorium will be placed on new regulations. Overregulation is costing our economy $2 trillion a year,” Trump said.

He has also vowed to scrap Obama’s Clean Power Plan.

Clinton, on the other hand, is proposing the Clean Energy Challenge plan, pushing for renewable energy.

As of Monday, Clinton led Trump by 11 points in Colorado, a Monmouth University poll showed. Before the first presidential debate, they were neck and neck in Colorado.

By Tsvetana Paraskova for Oilprice.com

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