Donald Trump: How Would A Republican President Affect Oil Prices in 2017
With the unthinkable happening we are entering a stagnant 2016 that is sure to be financially taxing if not also mentally taxing. So, what is there to look forward to? In this series installment I will take a look at what the GOP field has to offer in regards to future energy development if they were to become elected. As it stands today the current front-runners are Donald Trump, Ted Cruz, and Marco Rubio. We will evaluate those three players with the following structure in order to understand how their 4 to 8 year term would affect oil prices in the next decade: The candidates background, and known relations to energy, and the candidates positions on energy policy.
Donald Trump – If you didn’t already know Mr. Donald John Trump is a real estate mogul who is a native of New York, born in Queens in 1946 and looks to be the real deal this time around in his attempt to become our 45th president. Furthermore, Trump is as blunt as any candidate in the race and is as recognizable as any candidate in history due to his business, television, and now political success. Trump will be 70 years young by the time the election rolls around Forbes estimates his net worth near $3 billion, only about half of his own estimate of his own net worth, of course. Trump is a charitable man and a renowned author as well, so how does his past shape up in making his views on energy policy?
As far as lobbyists with direct ties to the energy industry, Trump seems to have none. That alone does not mean he is against energy, at the very least you can say he is pro-business and domestic independence in all sectors, but here are the hard facts that tie him to the pro-energy and US domestic energy production:
In the following article from CNN, OPEC Leaders Are 'Laughing At Us': Donald Trump, you can see his distaste for the current office holders effort on energy policy stating, "President Obama has not seen fit for [energy to be] a major agenda. Obamacare was a major agenda," said Trump, referring to the president's health-care plan. "If he spent one-third of the effort on energy we wouldn’t even be bringing oil in." The article obviously gives his feelings on OPEC of if which were true then, must be true and stronger now after the energy sector has just crashed at home.
If it was up to President, I mean Donald, Trump the Keystone pipeline would be serving the US today, In 2012, Trump told Greta Van Susteren that he found it “disgraceful” that a permit for the pipeline had not been approved. “Frankly, we don’t need Canada. We should just be able to drill our own oil. But as long as it’s there, we certainly should have approve it. It was jobs and it was cheaper oil.”
And his take on fracking? Couldn’t be more clear, see below:
When it comes down to it Trump should be seen as a very pro-energy candidate. Not only does he stand up for the energy community in his responses but he is such pro-domestic business that his nerves have to be at an all time high in regards to the current loss in the Oil and Gas sector. Whether he becomes our commander-in-chief is still to be determined, but if he does you will see a change in the way international energy policy is handled from the oval office. Ohh, and some lady from Alaska may also be on his side and the Oil and Gas Industries side when it is all said and done.
Our next candidate to examine will be Ted Cruz, who currently is seen as Trumps biggest threat to the Republican Nominee.
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