Trump’s energy proposals bad news for TT

According to the report which was released last week, Trump, who has indicated he is pro-energy many time during his campaign, will not only open up new sources of domestic oil, but increase investment in shale gas.

The report says, “There are over 100 billion barrels of oil lying fallow in US territory – on land and in shallow water, requiring convention drilling rigs.”

It goes on to outline Trump’s energy plan based on his election platform utterances which include staying independent of energy imports and unleashing America’s US $50 trillion in untapped shale, oil and natural gas reserves. It states that in order to do this Trump will likely incentivize US producers to get the commodities out of the ground.

The report projects that this in the medium term, Trump’s policies could see a further increase in energy supplies on the global market and therefore reduced prices.

FCIS projects that “as a result of these policies and the fact that Trinidad is losing market share to US companies, we see a further downside for the local industry. Further to this, according to BP’s CFO, Trinidad’s natural gas prices are being sold at a discount in the US.”