Oil



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Trump To Sign Executive Orders Advancing Keystone, Dakota Pipelines

It is just day two of his presidency, and already Trump is taking a sledgehammer to the Obama legacy: in his latest move reported moments ago by Bloomberg, president Trump intends to sign two executive actions today “that would advance construction of the Keystone XL and Dakota Access pipelines“, putting a spoke, so to say, in the train wheels of Warren Buffett’s train-based oil transportation quasi-monopoly.

More details from Bloomberg:

Keystone was rejected under former President Barack Obama. Trump’s move on Energy Transfer Partners LP’s 1,172-mile Dakota Access project aims to end a standoff that has stalled the $3.8 billion project since September, when the Obama administration halted work on land near Lake Oahe in North Dakota.

 

The moves, taken on Trump’s fourth full day in office, mark a major departure from the Obama administration’s handling of the controversial oil pipelines. The steps vividly illustrate Trump’s plan to give the oil industry more freedom to expand infrastructure and ease transportation bottlenecks.

Expect an angry reaction from Buffett, which will promptly flow through to funded environmental protest groups, who will double down in their defense of the two pipelines, of which the Dakota Access was the prominent center of media attention in the waning days of Trump’s presidency.

The post Trump To Sign Executive Orders Advancing Keystone, Dakota Pipelines appeared first on crude-oil.top.


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North Sea Oil Producers Cash In On Asian Demand, OPEC Deal

Crude oil from the North Sea is flowing to Asia at record rates, set to reach 12 million barrels this month, Bloomberg reports, citing shipping data. Tankers carrying 9 million barrels are already on their way to Asian refiners and another 3 million barrels are to be loaded this week. North Sea producers have been struggling with falling yields due to field depletion and lack of capital for investments in new deposits because of the price crash, in addition to a mini-glut of 12 million barrels of crude accumulated since the start of the price crash.…


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Trump Is Keeping FBI Director Comey

The F.B.I. director, James B. Comey, told his top agents from around the country that he had been asked by President Trump to stay on the job running the federal government’s top law enforcement agency, The New York Times reports, according to people familiar with the matter.

The political fallout from this decision will make the news cycle buzz today, since Hillary Clinton, the mainstream media, and many Democrats blame Mr. Comey for her defeat, and it is not clear whether she would have kept him on had she won.

but a decision to retain Mr. Comey would spare the president another potentially bruising confirmation battle. As The New York Times adds, it also would keep Mr. Comey at the center of the F.B.I.’s investigation into several Trump associates and their potential ties with the Russian government.

Retaining Mr. Comey could also help calm the bureau’s work force, which has been rattled after a tumultuous few months in which the F.B.I. and the director himself were sharply criticized for moves that many felt influenced the outcome of the presidential election.

 

During the campaign, Mr. Trump harshly criticized the F.B.I. and Justice Department for not bringing criminal charges against Hillary Clinton in connection with her use of a personal email server. After Mr. Trump was elected in November, he said in a nationally televised interview that he had not made up his mind about whether he would ask Mr. Comey to resign.

 

When Mr. Comey and the president-elect met in Trump Tower for the first time earlier this month for an intelligence briefing, Mr. Trump told the F.B.I. director that he hoped he would remain in his position, according to people briefed on the matter. And Mr. Trump’s aides have made it clear to Mr. Comey that the president does not plan to ask him to leave, these people said.

 

 

Those who described the plans for the F.B.I. director spoke on the condition of anonymity because they did not want to be identified discussing confidential conversations between Mr. Trump, his aides and Mr. Comey.

We await confirmation – or denial – from The White House. Representatives for the F.B.I. and White House declined to comment.

Mr. Comey will have to manage an increasingly difficult relationship with Mr. Trump and his White House, as the F.B.I. is leading an investigation into ties between Mr. Trump’s associates — including his former campaign manager, Paul Manafort — and the Russian government. As part of that inquiry, agents have examined intercepted communications and financial transactions. Mr. Comey has repeatedly declined to discuss the investigation with members of Congress.

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China Tells US To “Act And Speak Cautiously” In Response To Spicer “Threat” Over South China Sea

The latest diplomatic spat between the US and China erupted overnight, when China said on Tuesday it had “irrefutable” sovereignty over disputed islands in the South China Sea after White House spokesman Sean Spicer vowed to defend “international terri…

The post China Tells US To “Act And Speak Cautiously” In Response To Spicer “Threat” Over South China Sea appeared first on crude-oil.top.


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EPA Landing Team Lineup Signals Pro-Oil Shift

A ten-member landing team for the Environmental Protection Agency, presented by the Trump administration, has demonstrated what the direction of the administration’s policies in the environmental area would be: a sharp turn to oil, gas, and coal, just as Trump said on the campaign trail. According to Reuters reporters, who have seen the emailed list, the landing team includes three researchers formerly with think-tanks financially supported by the Koch brothers, who among other businesses have significant interests in oil and gas. Also among…


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EPA Landing Team Lineup Signals Pro-Oil Shift

A ten-member landing team for the Environmental Protection Agency, presented by the Trump administration, has demonstrated what the direction of the administration’s policies in the environmental area would be: a sharp turn to oil, gas, and coal, just as Trump said on the campaign trail. According to Reuters reporters, who have seen the emailed list, the landing team includes three researchers formerly with think-tanks financially supported by the Koch brothers, who among other businesses have significant interests in oil and gas. Also among…


No Picture

EPA Landing Team Lineup Signals Pro-Oil Shift

A ten-member landing team for the Environmental Protection Agency, presented by the Trump administration, has demonstrated what the direction of the administration’s policies in the environmental area would be: a sharp turn to oil, gas, and coal, just as Trump said on the campaign trail. According to Reuters reporters, who have seen the emailed list, the landing team includes three researchers formerly with think-tanks financially supported by the Koch brothers, who among other businesses have significant interests in oil and gas. Also among…