Oil and gas managers will meet President Trump on Wednesday in the White House, while trying to influence him at rates, tax credits and deregulation.
Some managers in the industry, who have spent more than $ 75 million to help choose Mr Trump, are increasingly frustrated by Mr Trump's agenda. Rates make essential materials such as steel pipe more expensive and also rattle consumer confidence.
The oil prices have fallen by around 14 percent since just before Mr. Trump took office, up to less than $ 67 per barrel. Peter Navarro, a senior assistant of the White House, has discussed the benefits of oil that only sells $ 50 per barrel. At such prizes, companies that are active in wide parts of the American oil match would lose money to drill new wells.
Here are some priorities of the industry:
Rates
American refineries buy oil from Canada and Mexico, transform it into fuels such as gasoline and export those more valuable products. These trade tires were formed for decades and would be difficult and expensive to disembark.
Mr. Trump announced 25 percent rates for import from Canada and Mexico with a lower rate of 10 percent for Canadian energy products. But this month he delayed the implementation of those rates for most goods, including energy imported under a North -American trade agreement on which Trump negotiated during his first term. That delay will end at the beginning of April.
The rate of 25 percent on imported steel that came into effect earlier this month is also a great concern for managers. The metal is used in everything, from pipelines to wells, and it becomes more expensive due to the rate. Some managers remain hopeful that they will be able to secure exemptions, although Mr. Trump rejected that idea.
Reform
Energy companies push Mr Trump and the congress to alleviate the allowance of rules to make it easier to build transmission lines, pipelines and other infrastructure. Many companies want to make it more difficult for states to block proposed projects and for environmental activists and others to bind them in court.
'If you want more energy in the United States and you want more investments in the United States, we must be able to rebuild things. I have heard that repeatedly, “said Chris Wright, the new American energy secretary, last week, summarizing feedback from managers he met during the Ceraweek by S&P Global Conference in Houston. “My answer is: Give me details. Which permit? What was the thing?”
Tax credits
Some oil and gas companies want to retain tax credits for clean energy for producing hydrogen and renewable fuels, as well as the recording and storage of carbon dioxide, the main cause of climate change.
Vicki Hollub, Chief Executive of Occidental Petroleum, a large American oil company that has built a carbon catch installation in West -Texas, insists on retaining federal stimuli for removing the greenhouse gas from the air. That tax credit is known as 45Q based on its place in the tax code.
“To accelerate the technology at the pace that the US needs to speed up a positive impact on our energy independence, we need 45Q to happen and stay in place,” said Mrs. Hollub at Ceraweek.
