Trump's Tariffs Hit Oil & Gas Industry Hard
Update: 2025-11-25
Description
President Trumps tariff strategy poses a significant challenge for the oil and gas industry, despite crude oil being exempt. The tariffs on steel and aluminum, used in infrastructure, increase costs for companies, leading to potential delays in capital plans and increased planning risks. Chinese tariffs further impact electrical gear and advanced drilling controls, potentially making drilling programs uneconomical. The industry navigates these indirect pressures, but the situation could drastically change if crude oil were to be added to the tariff schedule.
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