U.S. firms were pumping oil at a historic pace as President Trump’s second term began. The President then signed executive orders to speed up permitting and reduce environmental regulations. The goal is to increase domestic oil supply. But analysts say that oil price trends imply that energy producers may soon slow down their capital spending. As profit margins for U.S. oil tread close to their breakeven point, some drillers could choose not to pump more. Chapters: 0:00 Cold Open 01:15 Chapter 1: Oil and the cost-of-living 04:25 Chapter 2: Leases and permits 07:01 Chapter 3: Exports and imports Produced by: Carlos Waters Edited by: Andrea Miller Senior Director of Video: Lindsey Jacobson Graphics: Jason Reginato Additional footage: Getty Images, White House Additional sources: Bureau of Ocean Energy Management, ConocoPhillips, Council on Foreign Relations, Federal Reserve, Fuel Logic, Independent Petroleum Association of America, Nikkei Asia, USAFacts, U.S. Department of Energy » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to earn some extra money on the side? Take CNBC’s new online course How to Start a Side Hustle to learn tips to get started and strategies for success from top side h… Read More
POWER TO CHOOSE
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