Donald Trump wants to “drill, drill”, but the American majors are avoiding Africa

U.S. President Donald Trump delivers remarks during a tour of the Double Eagle Energy oil rig in Midland, Texas, U.S., July 29, 2020. CARLOS BARRIA / REUTERS

Repeated over and over by Donald Trump and his supporters during the months of campaigning leading to his re-election, the slogan « Drill baby drill »consisting of encouraging the drilling of oil wells, makes NGOs fighting against climate change shudder. The objective for the American administration is to derive the greatest possible profit from hydrocarbon production before renewable energies take over in the not too distant future.

Read also | Africa far from Donald Trump's priorities

Read later

However, while the deregulation and lowering of standards planned by the Trump administration and its energy secretary, the very climate skeptic Chris Wright, will have consequences for oil and gas investments in the United States, it is very unlikely that Africa will benefit from renewed interest from American firms over the next four years.

-

With 19.3 million barrels per day in 2023 (or 8 million more than their two rivals, Russia and Saudi Arabia), the United States produces almost three times more than the African continent as a whole. However, American firms like ExxonMobil, Chevron, Marathon Petroleum and ConocoPhillips are now focusing their resources on North America. They have invested considerably less in Africa since the boom in American gas and shale oil fifteen years ago.

You have 83.31% of this article left to read. The rest is reserved for subscribers.


Art

-

--

PREV freed Spanish hostage handed over to Spanish authorities
NEXT former president Macky Sall retrains in management consulting