Cindy, from Texas, is a former Topstep funded trader turned professional Crude Oil trader. She also holds down a full-time job in the Oil and Gas industry. Working on the drilling business’s exploration side, Cindy has a great pulse on the future of oil supply in the U.S.
A Bit About Cindy
Living just outside of Houston, Cindy has been involved in the oil industry for more than a decade. Working on the drilling business’s exploration side, Cindy is responsible for obtaining real estate leases for land to drill on and ensure everyone gets paid once the oil is extracted.
As for her trading experience, she has dabbled in several financial markets over the past seven years, including stocks, futures, and ETFs. Cindy’s experience with Topstep goes back to December of 2017 when she began attending performance coaching sessions with Topstep’s Lead Performance Coach John Hoagland.
Thoughts On Oil Supply
The new White House administration is making a concerted effort to move away from fossil fuels in favor of renewable energy sources like solar, wind, and electric power.
At present, oil and natural gas remain the most cost-effective way to produce energy in the U.S. By imposing new regulations on the production side of the oil and gas industry, lawmakers are attempting to cut oil and gas supply until prices rise to the point where green energy resources look more attractive.
New regulations on offshore drilling, pipelines, fracking, and drilling on federal land will create a significant drop in supply, and job losses will follow. At the same time, federal subsidies are pouring into green energy to improve their cost-effectiveness. Unfortunately, oil and gas workers’ marketable skills don’t translate very well to the renewable energy business, so new training programs will be required for anyone who wants to make the transition.
In all, the consensus on the street in Houston is that it will be a while before renewable energy can compete with fossil fuels, in terms of consumer cost-effectiveness, on a level playing field. Until then, the squeeze is starting, and with oil prices back up to their pre-pandemic levels, we should probably expect to see more price increases at the gas pump as demand increases.