TEHRAN, June 30 -A Texas oil and gas trade group applauded the state's governor for calling on President Donald Trump to consider the negative industry impacts of tariffs.
TEHRAN, Young Journalists Club (YJC) -A Texas oil and gas trade group applauded the state's governor for calling on President Donald Trump to consider the negative industry impacts of tariffs.
"To maintain our energy dominance and continue meeting the energy needs of our nation and beyond, we need to be able to move unprecedented volumes of oil and natural gas to Texas refining complexes and the Gulf coast," Todd Staples, president of the Texas Oil & Gas Association, said in a statement emailed to UPI. "That means we need pipelines -- lots of them -- that are made from specialty steel that isn't produced in large quantities in the United States."
The Trump administration's tariffs on aluminum and steel frustrate his plans for energy dominance. The United States is on pace to become the world's largest oil producer. Output from one basin -- the Permian shale -- in the southern United States will account for 60 percent of world total production growth by 2023.
The United States is now an oil exporter, though infrastructure necessary to move oil to the market can't keep up with production trends. A report from consultant group IHS Markit found it was the lack of infrastructure, not the lack of spending on exploration and production, that presented a growth challenge for U.S. shale.
Source:UPI
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