We think he will. He who and what will he? President Obama will most likely put a moratorium on fracking in the very near future. Such an action would shut down much of the new horizontal shale development in our country . Why would he do such a thing you ask? To payback some supporters and rub the republicans the wrong way, that's why. Never mind that such an action would halt our march forward towards energy independence. While he is at it he may very well can the Keystone pipeline at the same time. This action would fall in line with his recent ban of all drilling on 1.6 million acres of Federal land. During the debates he bragged on how the energy sector was making great progress during his first four years towards energy independence. Truth be known the industry made giant strides forward in spite of him not because of him. If it wasn't all so awful it would be laughable. We hope that we are wrong on this. joho
Footnote: TGC nor its reserves would be hurt by such a move. As a matter of fact crude would probably skyrocket. Secondly this is not a political post in any way. We would feel the same way no matter who the president was that would be against the development of our Country's natural resources for our own people at a time when we all need the relief so desperately. In addition we consider ourselves stewards of the land and feel that we can all work together. Thank you
not likely. Perhaps some dumb new regulations, but no ban. He would have to clear it with Hillary, and she is not gonna want him to do anything that will hinder her campaign. He owes the Clintons big time and they will be collecting on his debts over the next 4 years.
If this happens my quess on oil price is $150 + in a very quick move. Thousands of jobs lost in several different areas of several industries. An immediate hike in food prices and anything we buy. Does this sound like a cliff?
Good thing is TGC won't be affected adversley. Their reserves and drilling and completion process will not be affected. Last time oil was at $140 we seen what happened to TGC. It's anybodies guess from here. Later