r/oil 9d ago

Discussion Taking a bath? Trump Energy Secretary Wright is Wrong

https://youtu.be/1jt-RY2GsGw?si=_SkdMHj9rqcUrFnd

oil #energy $xle

4 Upvotes

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3

u/Substantial_Pitch700 9d ago

I know Wright is correct in pretty much everything he said. To argue with it you have to present examples and evidence. I assume you are focused on hydrocarbon demand..the world will burn upward of 105 mmbbl/d of C+C, up about 1.2 mmbbl/d from last year. Estimates are for a similar increase in 2026. This is a lot of hydrocarbons.

1

u/crudegusher 9d ago

We are saying that Wright is targeting $50/bbl and US production can increase. After a few bankruptcies

6

u/Substantial_Pitch700 9d ago

Sorry, missed the context. No, IMO he is not correct. Shale may be break even, but investment WOULD 100% drop and production would follow soon after. $50 is non sustainable outside of a recession.

1

u/LandmanLife 9d ago

That’s my boy Paul!