Trump's Terms
Oil companies expected a big business boom under Trump. Now they're worried
Apr 24, 2025
Executives in the oil and gas sector initially rejoiced at the prospect of easier extraction with the new administration. However, their optimism has taken a hit due to looming recession fears. The economic struggles in the San Juan Basin reveal how rising costs and market uncertainties are squeezing smaller operators. Yet, amidst the challenges, local workers remain hopeful for a revival, fueled by potential demand for natural gas.
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Quick takeaways
- Optimism among oil and gas executives has diminished due to recession fears, despite initial excitement over Trump's energy policies.
- The local economy is struggling with job growth and seeks diversification into tourism while facing wage disparities with traditional energy jobs.
Deep dives
Impact of Trump's Energy Policies
The Trump administration's energy policies have focused on fast-tracking approvals for oil, gas, and mineral projects on federal land, significantly reducing the time needed for environmental reviews. This approach has generated optimism among local businesses in areas like the San Juan Basin, where historically, oil and gas production has thrived. However, challenges remain as major companies have shifted focus to private lands in other states, leaving smaller independents to gauge future growth amidst uncertainty. An independent operator highlighted rising costs due to tariffs impacting equipment, leading to concerns about the viability of new ventures and the overall economic outlook.
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