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OIL: Chris Wright to Offer More Permissive U.S. Permitting: RBC

OIL
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The U.S. energy sector will face a “more permissive permitting environment” under Chris Wright as the Secretary of Energy according to RBC’s head of commodity research Helima Croft.

  • “We would expect going forward, less permitting, ease of regulation,” under  Wright, Croft said.
  • “Bidens LNG permitting pause could be one of the first things to get repealed,” Croft added.
  • Croft said higher drilling in the U.S. may be curtailed by capital discipline amongst oil companies rather than be in the hands of eased government regulation.
  • Croft added that questions remain over the U.S. ability to sanction Iranian oil now it almost all heads to Chinese refiners. 
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The U.S. energy sector will face a “more permissive permitting environment” under Chris Wright as the Secretary of Energy according to RBC’s head of commodity research Helima Croft.

  • “We would expect going forward, less permitting, ease of regulation,” under  Wright, Croft said.
  • “Bidens LNG permitting pause could be one of the first things to get repealed,” Croft added.
  • Croft said higher drilling in the U.S. may be curtailed by capital discipline amongst oil companies rather than be in the hands of eased government regulation.
  • Croft added that questions remain over the U.S. ability to sanction Iranian oil now it almost all heads to Chinese refiners.