Replies to post #511157 on Tornado Alley (PROG)

[zab]

Rig count under President Biden averaged over 650 rigs, so under trump it has dropped to 586. Meanwhile average gas prices have risen over 70 cents a gallon for Americans.  Trump changed the FAA, and America  has had three plane crashes,  egg prices have tripled,  and the worse jobs number was just reported yesterday thanks to trump policies.

[dukeb]

And let's include the final paragraphs of the article that you linked, shall we?

The oil and gas rig count declined by about 5% in 2024 and 20% in 2023 as lower U.S. oil and gas prices over the past couple of years prompted energy firms to focus more on paying down debt and boosting shareholder returns while increasing drilling efficiencies to raise output.

So far, three of the 25 independent exploration and production (E&P) companies tracked by U.S. financial services firm TD Cowen said that on average they planned to cut spending in 2025 by around 6% from levels seen in 2024.

That compares with roughly flat year-over-year spending in 2024, and increases of 27% in 2023, 40% in 2022 and 4% in 2021.