{"id":1640,"date":"2019-12-14T19:38:46","date_gmt":"2019-12-14T19:38:46","guid":{"rendered":"https:\/\/reddypipe.com\/?p=1640"},"modified":"2020-02-20T21:01:55","modified_gmt":"2020-02-20T21:01:55","slug":"oil-and-gas-from-liquid-gold-to-chess-pawn","status":"publish","type":"post","link":"https:\/\/reddypipe.com\/oil-and-gas-from-liquid-gold-to-chess-pawn\/","title":{"rendered":"Oil and Gas, from Liquid Gold to Chess Pawn"},"content":{"rendered":"\t\t
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Supply and demand is the driving force of any industry and certainly it is a market driver in oil\u00a0<\/span>and gas. An overabundance of one directly affects the other and balancing the two can be\u00a0<\/span>challenging. But is there an even bigger x-factor in our booming petroleum market? One that is\u00a0<\/span>putting our most precious resource in the middle of an ugly trade war?<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Crude or Liquid Gold?\n<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Since oil was first discovered in America and the first wells drilled in Tittusville, Pennsylvania in <\/span>1859, the U.S. crude oil industry has created booms and busts. Our thirst for petroleum has <\/span>been on the rise ever since, and communities across America have flourished and floundered <\/span>because of it.<\/span><\/p>

While some of the worlds largest oil and gas deposits can be found right in our backyard, drilling <\/span>for them is not always easy nor cheap. And in oil rich areas like Texas and Oklahoma, the oil <\/span>and gas industry has become the backbone of their economies. Communities across both rely <\/span>on the oil and gas to fuel their survival, and a bust can devastate a small town.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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One of Many Resources <\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Petroleum has become the lifeblood of our world. Nearly everything in our lives relies upon <\/span>some form of petroleum. We need oil and gas just to survive. But, much like our own blood, it <\/span>depends on outside resources to maintain viability.<\/span><\/p>

It is dependent upon commodities like steel, copper, and others that are used to fabricate the <\/span>components needed for drilling, transport, and storage of crude oil and gas. And any fluctuation <\/span>in raw material prices has a \u2018trickle down\u2019 effect on overall production costs.<\/span><\/p>

The American petroleum industry is also heavily regulated to meet environmental and <\/span>production standards, all of which affect the profitability of drilling.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Trade War\u2019s and Their Impact<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Other global factors that impact petroleum production include recent trade tariffs imposed on <\/span>China and Canada. Because we rely on these countries for raw materials such as steel and <\/span>lumber, these sanctions have had tremendous impacts on the petroleum industry. And it\u2019s not <\/span>just on raw materials coming into the United States that are being affected.<\/span><\/p>

China, which is the world\u2019s fastest-growing energy market, now has tariffs on U.S oil and gas <\/span>which has effectively closed off the U.S to the world market. While other countries like South <\/span>Korea and India have increased their imports of U.S crude, China\u2019s reduced imports of nearly <\/span>50% are taking a toll.<\/span><\/p>

Export oil is an important component in our production since our domestic supply, including <\/span>reserves are nearly maxed out. The same is holding true for U.S gas production of liquified <\/span>natural gas (LNG).<\/span><\/p>

The bottom line is, while the tariffs imposed in 2018 serve to protect America\u2019s production and <\/span>manufacturing industries, their impacts on petroleum could be devastating.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Supply and demand is the driving force of any industry and certainly it is a market driver in oil\u00a0and gas. An overabundance of one directly affects the other and balancing the two can be\u00a0challenging. But is there an even bigger x-factor in our booming petroleum market? One that is\u00a0putting our most precious resource in the […]<\/p>\n","protected":false},"author":2,"featured_media":1641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nOil and Gas, from Liquid Gold to Chess Pawn - Reddy Pipe & Supply<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil and Gas, from Liquid Gold to Chess Pawn - Reddy Pipe & Supply\" \/>\n<meta property=\"og:description\" content=\"Supply and demand is the driving force of any industry and certainly it is a market driver in oil\u00a0and gas. 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