At worst, Biden could issue an executive order to ban fracking on federal lands. This would suck for NM, CO and WY, who have millions of acres under federal control.

For TX, it would actually be a net positive, given that almost all of our in state O&G production is on private or state-owned land that could not be subject to such an order. Less incentive to drill in Rockies -> More incentive to drill in TX.

But regardless, oil and gas sucks right now and probably will for a while. The ups and downs of our industry are far more beholden to market cycles and the global economy than whoever the hell sits in the oval office.

2007-13 freaking rocked
2014-16 downturn sucked and tons of people got laid off
2017-March 2020 things started picking up steam and getting better
March 2020-Today COVID has ****ing killed us and we're all just trying to make it to next year.

Remember all the amazing things Donald Trump was going to do to revive the coal industry?

I imagine Biden will be about that effective when it comes to actually killing the O&G industry.

I'd think there will be more regulation and a more aggressive EPA. The more immediate threat is getting the economy back up and running and having people feel safe to travel again.

goodAg21 said:

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A weak affect on the industry?

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If that's the case, I feel for you.

Old McDonald said:

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dmz233 said:

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Old McDonald said:

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the administration will cast rhetoric aside and cozy up to the industry lobbyists just like they always have, your job is safe

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Hope you're right. No integrity is what I always hope for politicians.

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all the scaremongering around here about the end of oil was just overwrought hysterics, the king of saudi arabia has more power to kill oil jobs in the us than president

o&g will be around for decades until the market decides otherwise, and when the time comes it'll still be the exxons and chevrons providing whatever takes its place

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Thanks!

barnyard1996 said:

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Not much if we win the senate.

Also, you cant make anything anymore without oil&gas.

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Don't forget the damage the EPA will do, no Senate approval needed.

GWGuerrilla said:

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barnyard1996 said:

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Not much if we win the senate.

Also, you cant make anything anymore without oil&gas.

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Don't forget the damage the EPA will do, no Senate approval needed.

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Everybody just wants to get paid.

Correction said:

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At worst, Biden could issue an executive order to ban fracking on federal lands. This would suck for NM, CO and WY, who have millions of acres under federal control.

For TX, it would actually be a net positive, given that almost all of our in state O&G production is on private or state-owned land that could not be subject to such an order. Less incentive to drill in Rockies -> More incentive to drill in TX.

But regardless, oil and gas sucks right now and probably will for a while. The ups and downs of our industry are far more beholden to market cycles and the global economy than whoever the hell sits in the oval office.

2007-13 freaking rocked
2014-16 downturn sucked and tons of people got laid off
2017-March 2020 things started picking up steam and getting better
March 2020-Today COVID has ****ing killed us and we're all just trying to make it to next year.

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Bingo. A drop in supply might actually help some companies/states as it would force prices up.

Trump supporter.

But our companies best years were under Obama.

We build ASME pressure vessels. For what ever reason we did good under Bush then when Obama got in, around 2011 we exploded.

Oil and gas prices will skyrocket I'm sure and this is probably why oil and gas rebuilds a lot. More money coming in under a Dem president

I'm a huge Trump supporter but the only thing helping me get through this fraud of an election is the thought of a giant boom again with our company. Hope it happens because oil companies haven't been buying crap for 4 years.

Russia, Venezuela, and Saudi Arabia love Democrats in office. They have economies that rely heavily on high priced oil.

This is what im most worried about. New regulations kill new projects. They are already getting worse but I expect them to get exponentially worse under a Biden presidency

Correction said:

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At worst, Biden could issue an executive order to ban fracking on federal lands. This would suck for NM, CO and WY, who have millions of acres under federal control.

For TX, it would actually be a net positive, given that almost all of our in state O&G production is on private or state-owned land that could not be subject to such an order. Less incentive to drill in Rockies -> More incentive to drill in TX.

But regardless, oil and gas sucks right now and probably will for a while. The ups and downs of our industry are far more beholden to market cycles and the global economy than whoever the hell sits in the oval office.

2007-13 freaking rocked
2014-16 downturn sucked and tons of people got laid off
2017-March 2020 things started picking up steam and getting better
March 2020-Today COVID has ****ing killed us and we're all just trying to make it to next year.

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PARIS CLIMATE ACORDS! Show me in the Paris Climate Accords where the US O&G industry is not affected?

Page, paragraph and clause, please, with a verifying link.

So wouldn't Biden's hostility to US based oil production potentially cause oil prices to rise?

Would that be a good thing for companies like XOM and SLB? Asking because I own both.

Democrats have cars and like to fly too. Even Teslas run on natural gas and coal.

Rick Burns said:

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Prices of oil will go up bc of regulations. Your job is super safe.

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This is probably truth

If your company is very heavily tied to federal lands you're in a lot of trouble. Otherwise, things will pick up normally as the world opens up. Poor will be hurt with increasing energy prices and a lack of severance tax in states like NM and CO. Overall he won't impact much and won't do **** to Texas.

goodAg21 said:

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I have recently accepted an offer with one of the big O&G/Energy companies in Houston and really want to know what I can expect with the possibility of a major change in the industry.

Thanks!

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Well he openly said it would be phased out. What else you need to know? Just hope we keep the Senate in 2022 and can gain more ground in the House.

Putting aside the rhetoric, how has big oil done under trump??

Every major oil and gas company has taken huge write downs under Trump and a republican senate

Exxon , Chevron, Shell are all down big. Exxon was the most highly valued company under O. Is it even top ten now? Under Trump?

West Texas has been shaky this last year. Under Trump.

How many jobs today vs four years ago?

Imo it will be better for short term oil price, but I worry about the damage that will be done to the long term survival of the industry in the US.

Galborathelion said:

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Please observe the O&G industry in 2008 for a good idea of what to expect.

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Hell, just observe the oil industry right now.

The industry was just barely hanging on by its fingernails even before the Covid shutdowns.

I personally don't ever expect to work in it again. As to what I'm going to do at my age, I don't know (Walmart greeter perhaps).

You're looking at 1 company, not the thousands of others involved. Trump made us independent which allowed compete markets with OPEC. Sister in law deals in O&G in Midland to Clovis and my best man owns a land management company in Kennedy. Believe me when I say Trump was way better when it comes to O&G.

May slow domestic production in federal fields.
Private fields will prosper. I am in the midstream side of the business. It doesn't matter if oil is local or imported, we still have to move it for refining.

Rick Burns said:

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Prices of oil will go up bc of regulations. Your job is super safe.

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Sounds like someone who has no clue how the oil industry works. That will decimate the oil business and make us dependent on foreign oil again.

I'm retired from one of the largest O&G companies in the world and think it may have some effect but it will take a while to work into the industry
1) Fracking: Most politicians (AOC) are too stupid to understand what it is. I think she and maybe Biden think it's the O&G that comes out of the well. It's the process that improves production from an individual well cause it's several wells in one and you actually fracture the formation.
Only 11% of fracturing is on Federal lands so he could ban it say by 2030. By that time most wells will be depleted.
2) Chinese Tariffs on US O&G: Chinese have reduced tariffs on plastics this year and will probably reduce more on other O&G under Biden who's in bed with them
https://www.google.com/amp/s/www.cnbc.com/amp/2019/12/19/china-announces-new-tariff-exemptions-for-us-chemical-and-oil-products.html
3) If large O&G a lot of the projects will be probably overseas where they are O&G friendly. US will be on gasoline and Nat Gas for a long time. You can't put enough windmills and solar cells up to cover the amount of power needed to power houses in the US and charge your Tesla (if you can afford one
4) Oil is gonna go up as soon as this weak virus is over and demand increases for gas and diesel. Think it's about at 90% of 2019 demand now.
5) If Carbon Capture breaks though and we could capture most power plant CO2 emitted in 10 years that would be a game changer
6) H2: I think it's a great fuel for the future and can come from Nat Gas or seawater electrolysis. It's not cheap but getting cheaper. Many O&G companies with pipelines and infrastructure can make this conversion. H2 is a great Fuel that can used in power plants and automobiles

Good luck
You'll be OK

Good information! Thank you!

Last time a Dem was president we fraced our way down to $40 oil and North American energy independence. I think we will be okay.

AgBMF42 said:

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Last time a Dem was president we fraced our way down to $40 oil and North American energy independence. I think we will be okay.

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Is this an absurd joke? Biden and Heels are not going to promote fracking as as option.

If the feds under Biden come after O&G, just say **** you and keep on keeping on.

barnyard1996 said:

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Not much if we win the senate.

Also, you cant make anything anymore without oil&gas.

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What is this supposed to mean?

I should be studying 11 said:

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barnyard1996 said:

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Not much if we win the senate.

Also, you cant make anything anymore without oil&gas.

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What is this supposed to mean?

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Which part?

barnyard1996 said:

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I should be studying 11 said:

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barnyard1996 said:

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Not much if we win the senate.

Also, you cant make anything anymore without oil&gas.

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What is this supposed to mean?

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Which part?

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Also, you cant make anything anymore without oil&gas

I should be studying 11 said:

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barnyard1996 said:

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I should be studying 11 said:

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barnyard1996 said:

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Not much if we win the senate.

Also, you cant make anything anymore without oil&gas.

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What is this supposed to mean?

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Which part?

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Also, you cant make anything anymore without oil&gas

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Where do plastics come from?

Ahh ok. Carry on then. Agreed.

I should be studying 11 said:

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Ahh ok. Carry on then. Agreed.

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The greatest irony is that the materials needed to build green technology come from oil and gas.

padreislandagfan said:

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May slow domestic production in federal fields.
Private fields will prosper. I am in the midstream side of the business. It doesn't matter if oil is local or imported, we still have to move it for refining.

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Can't build them, if they won't issue you the permits.

Now you see that the oil overlords play both sides.