During the lengthiest government shutdown in United States history, prioritizing fossil fuel development continues to take precedence for the Trump Administration. An estimated 800,000 federal workers went without paychecks however the administration has still found ways of moving forward for “energy dominance.”
Oil & Gas News
Wood Mackenzie (WoodMac), a global energy, chemicals, renewables, metals and mining researching and consulting firm, states companies need to raise investment into new production by 20%. Oil and gas companies need to increase annual investment before a supply demand in 2025. The investment could reach about $600 billion to ensure companies sustain production and growth for impending demand.
The geopolitical climate in the Middle East continues to intensify as the Saudi government is preparing to admit that Washington Post columnist Jamal Khashoggi was killed in the Saudi consulate in Turkey two weeks ago. President Trump has threatened to impose severe punishment on Saudi Arabia if it is proved they are behind the murder while the Saudi government has said they will respond with greater action if the United States moves forward. The threat of Saudi Arabia using their oil reserves as a weapon has the world on the edge of their seat.