In some presidential election years, voters have struggled to discern substantive differences between the positions of the major party candidates. Not this year.
The energy and environmental policies of President Donald Trump and former Vice President Joe Biden reveal “a night and day difference between the two approaches,” Kevin Garber, a shareholder in the Babst Calland law firm told Hart Energy’s Joseph Markman and Len Vermillion.
But oil and gas executives need to focus their attention beyond the presidential race.
“Looking at the real local level, there are task forces, there are climate plans, there are initiatives for electric vehicles and renewables and building codes—whether you can or cannot have gas hookup in new construction,” said Jean Mosites, also a Babst Calland shareholder who practices environmental law. “A lot of interesting things are going on and certainly not just federal.”
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A Chevron spokesman confirmed that the company was making an "organizational adjustment" in Venezuela, as part of the global reduction in headcount by 10%-15% prompted by the crude price plunge and drop in demand.
During the first day of DUG Midcontinent Virtual Conference, operators and industry analysts acknowledged the unique challenges of today’s market, but offered positive indicators making for a better market outlook.
Even when U.S. benchmark prices return to $45/bbl, "very few" U.S. producers would be able to afford to expand production because of high debt levels, Pioneer Natural Resources CEO Scott Sheffield says.