Trump's Trade War Dampens Oil Boom Hopes
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Oil companies initially anticipated a boom under Trump's administration, but rising costs due to the trade war and economic uncertainty are dampening enthusiasm. The San Juan Basin, an old drilling area, is struggling, with smaller companies surviving while larger ones moved to more profitable regions. While some hope Trump's policies will stimulate the industry, the current climate of economic volatility and high input costs, particularly steel from Asian markets, threatens future development. Local residents express mixed feelings, balancing hopes for economic revival with concerns about job security and the environmental impact of oil and gas extraction.
Oil companies initially anticipated a boom under Trump's administration, but rising costs due to the trade war and economic uncertainty are dampening enthusiasm. The San Juan Basin, an old drilling area, is struggling, with smaller companies surviving while larger ones moved to more profitable regions. While some hope Trump's policies will stimulate the industry, the current climate of economic volatility and high input costs, particularly steel from Asian markets, threatens future development. Local residents express mixed feelings, balancing hopes for economic revival with concerns about job security and the environmental impact of oil and gas extraction.
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