CERAWeek: Registration Day
Petroleumworld 03 02 2018
The Energy world is focused again on Houston as “CERAWeek by IHS Markit” is in town along with the rodeo. The most influential people in major energy companies, government, academia, NOC’s, environmentalist and BBQ pit masters are in Houston this week.
While Donald Trump is having limited impact on the BBQ competition and bull riding events his recent comments on trade and import tariffs are causing a lot of concern among US energy companies and their foreign counter parts. Are we heading into a new area of trade wars?
The US energy industry depends on a substantial portion of its steel and aluminum from imports from some of its closes neighbors and allays.
Mexico and Canada are among the largest. E&P, refining, pipelines, petrochemicals and almost the whole industry will be impacted by higher import prices. By raising import tariffs, it doesn’t mean that local producers will lower their prices. The USA’s trading partners impacted by higher tariffs are certain to retaliate. Are trade wars far behind?
This “CERAWeek” is shaping up to be dominated by politics not that previous ones were not. NAFTA which impacts the USA, Canada and Mexico will be front and center. Venezuela’s on going human tragedy and its continued drop in oil production. A Trump embargo on Venezuelan oil? The Mideast conflicts between Qatar and Saudi not to mention Iran. Russia o Russia. The list goes on.
Besides politics, “CERAWeek” is about what is happening in the energy industry and the future. Technology, safety and how to make the energy business profitable and sustainable are supposed to be the main topics.
Dan Yergin and the IHS Markit team have continuously done a very good and professional job of hosting the “CERAWeek” conference. We will certainly all come away better informed and prepared to face the upcoming challenges.
Story by Todd Peterson, special correspondent from Petroleumworld
petroleumworld.com / 03 05 2018
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