US oil and gas companies have the potential for President Trump to confuse business and impose a 25 % tariff on products from Canada and Mexico.
The United States is the world's largest oil producer, but the national refinery is designed to turn various kinds of oil mixtures into fuel such as gasoline and diesel. Approximately 60 % of the oil imported by the United States comes from Canada, and about 7 % come from Mexico. Many refinements are set to use these imported products, and oil cannot be easily switched from other places.
Analysts are not sure how Trump's tariffs spread the petroleum market and who will bear the additional costs. If customs duties are temporarily enforced, or if the administrator makes it easier to exemption and make it easier to continue purchasing without adding Canada or Mexico crude oil, the cost may not be important. 。
Mr. Trump said the tariffs will be enforced on Saturday. On Thursday, he suggested that it might be exempted from oil.
The oil and gas industry are one of Trump's largest supporters during the 2024 election, giving his campaign more than $ 75 million, and the president supports the industry and priority on consumers. The energy cost of the matter has been reduced.
If Mr. Trump does not exempt fossil fuels, it is highly likely that it will be hit because it is a Canadian oil producer and a refined company in the United States, especially in the Mids and West, which cannot be replaced immediately. People. American consumers in the region, which depend on Canada oil, were able to see a slightly higher price with pumps, especially when fuel manufacturers reduce production. He said that gasoline prices in the midwest could rise from 15 to 20 cents per gallon, which had more restrained effects in other countries in the country.
“It will be very troublesome,” said Mr. Crosa, “it will be very troublesome.” “We don't deal with this. It's certainly not modern.”
Already, sophistication is a more difficult business than a few years ago. This is because demand for diesel in the United States is weakened.
The decline in fuel make king focuses on the results of the fourth quarter of the largest oil company, which reported the revenue on Friday, on Friday.
The last three months of Exonmobil, the last three months, were lowered from $ 7.610 million to $ 7.61 billion in the previous year. Production growth in places like West Texas has helped off the challenging market for refining. The company's results have exceeded the predictions from the analysts investigated by the fact set.
“We worked hard to ensure competitive advantages. It will hold us in all market environments,” said Kathy Mikells, the highest financial manager of EXXON. I said.
Chevron's fourth quarter profit increased by about 43 % year -on -year, to $ 3.24 billion, but no expectation for Wall Street.
According to Motor Club AAA, the average price of the regular gasoline on Friday was $ 3.11 nationwide in line with last year's price. In the Midwest, gasoline is generally cheaper than the national average.
In the first two weeks of his inauguration, Trump repeatedly called for tariff threats. Some policy analysts say that they use threats as negotiations tools to spur to do what the country wants. Last weekend, he announced 25 % of Colombia to another US allies after telling the President to accept a U. Within a few hours, Colombia accelerated, and Trump reversed the course.
The American Petroleum Research Institute, a major trade group in the petroleum and gas industry, has urged government to exempt fossil fuels from any customs duties.
“Tax duties for crude oil, natural gas, or sophisticated products directly impair the affordable price and use of consumer energy, but also eroded the competitiveness of domestic and worldwide US oil and natural gas industries. I will do it in the December letter.
Most of the oil produced in the United States is similar to a light beer to talk about industry experts, but the crude imported from Canada and Mexico is like thick molasses. The refined place is set to make gasoline, diesel, and other products from two combinations, and is generally called light oil and heavy oil.
Opis' fuel manufacturers did not seem to be breeding Canadian oil, said Opis's Crosa.
Valero Energy, one of the largest petroleum craftsmaking companies in the United States, is planning a wide range of scenarios, and many refiners are near the Port where oil can be imported from all over the world along the Gulf. There is. The Chief Executive Officer told the financial analyst at a Thursday telephone conference.
However, Simmons added that if it would be difficult to buy heavy oil, such as a type of Canada and Mexico, it may be necessary to reduce production. 。
Chevron also stated on Friday, recognizing $ 715 million retirement costs in the last three months of the year, informing him of the reduction of employment on the horizon.
“The reorganization of the organization will be seen, and it will bring some changes to our labor,” said Mike Worth, the company's highest executive officer. Chevron has not disclosed how many employees may be affected.
The US oil industry has decreased by about 25 % in the past decade, even if the production of oil and gas has soared and records high prices.
