In his Energy plan, Candidate Trump was clear...”We will become, and stay, totally independent of any need to import energy from the OPEC cartel or any nations hostile to our interests.”…
He continues with his 100 day energy plan…
- We’re going to lift moratoriums on energy production in federal areas
- We’re going to revoke policies that impose unwarranted restrictions on new drilling technologies.
In essence, a Trump Presidency means a push by the US to drill more, and use more American oil than imports from OPEC and of course Nigeria.
Keep in mind, as stated by Trump, America has 1.5 times as much oil as the combined proven resources of all OPEC countries; we have more Natural Gas than Russia, Iran, Qatar and Saudi Arabia Combined…but Ameican oil is expensive to extract because of regulations that push up the cost, if those regukations are relaxed, then domestic output of oil will increase.
Mr Trumps election victory has already seen gas prices falling, its a forward indicator of lower global crude oil prices and a blow to Nigeria Macro Economic Stability, as export earning are based solely on oil.
Nigeria has failed to diversify its government revenues away from crude oil, it appears Mr Trump will force that diversification.
Its our problem, we can fix it
