Why Trump isn’t energy’s friend
You really can have too much of a good thing. Or a bad thing. Or just a thing. By “thing,” I am referring in this case to President Donald Trump’s support for the energy industry. Trump is all in on developing America’s bountiful supplies of oil, natural gas and coal. This is what miners and drillers (and pipeline operators and refiners) want. At this juncture, though, it’s not necessarily quite what they need.
Meanwhile, Friday morning delivered what has become a rather familiar set-piece: A tariff tantrum in oil prices. China’s announcement of new tariffs on another $75 billion of US goods, including oil, took what had been a tentative rally in Brent crude above the $60 level and dunked it back down below.
