Drill baby drill….lmao…..just another Trump bullshit story..
Energy Dominance!!! DOE Secy's Company's Stock Value Sliced In Half, Oil Price Below Point Of Profitibility
President Donald Trump promised to unleash an energy renaissance that would lock in U.S. dominance over oil and gas. But that is not how things are working out for America’s drillers, fracking firms and equipment suppliers, including the company founded by Trump’s own energy secretary. The market value of Liberty Energy has fallen by nearly half since its former CEO, Chris Wright, joined Trump’s Cabinet. The company reports it is among many in the industry struggling with the challenges heightened by Trump’s agenda, including “tariff impacts, geopolitical tensions, and oil supply concerns.”
Three months into the new administration, the price of U.S. oil has plunged to below the drilling profitability threshold of about $65 per barrel and the industry is ailing. At the same time, the U.S. energy economy is being further destabilized by White House attacks on clean power. It is a stark reversal from last year, when the United States was rocketing ahead on clean energy projects, pushed by government, and oil industry executives were brimming with optimism amid record production.
Companies are opting not to add new wells out of fear they will lose money. The number of active rigs in Texas is lower now than it has been since the nation was climbing out of the pandemic. The president’s tariffs are meanwhile driving up costs in U.S. oilfields, leaving firms hesitant to invest in expanding production.
“It is truly affecting everybody,” said T. Grant Johnson, president of Lone Star Production Company, an oil exploration firm in Texas. “There was a lot of talk of, ‘drill baby, drill.’ But these companies are not going to drill if the economics aren’t there. All this fear and uncertainty is causing people to be far more cautious.” He warns the challenges threaten political blowback for Trump. “If this pain runs too long and spills into the midterm elections, it could become very uncomfortable for the people who got us here,” said Johnson, who chairs the Texas Independent Producers and Royalty Owners Association. “And this would all be for naught.”
https://www.washingtonpost.com/business/2025/05/10/oil-price-energy-tariffs-trump/
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