Oil industry leaders and experts have conflicting opinions about what the policies of U.S. President-Elect Donald Trump could mean for the oil industry. Low oil prices have hurt profits for leading oil companies in recent years. However, prices are rising again, creating other problems. Jack Gerard is president of the American Petroleum Institute, a group that represents the oil industry. Gerard notes that Trump has promised to change regulations and reform taxes. He says that could help energy companies and lead to more oil industry jobs. Gerard said America’s oil and natural gas industries support 9.8 million jobs. He thinks the industry could create hundreds of thousands of additional jobs if what he called “smart” regulation was put in place. He says the “smart” rules would replace ones that appear to duplicate existing measures or are in competition with them. Other observers say some of Trump’s proposed policies and his statements present problems for international oil markets. Diane Munro is an oil industry expert. In December, she wrote a story for the Arab Gulf States Institute in Washington, DC. The non-profit group aims to increase understanding of the Gulf States in the United States. Munro wrote that some of Trump’s statements present, in her words, a “cauldron of contradictions.” For example, Trump has strongly criticized the 2015 nuclear agreement between Iran and world powers. The agreement eases many economic restrictions on Iran in return for limits on its nuclear activities. The president-elect said he would consider canceling the deal. Munro wrote that Trump also has threatened to ban oil imports from the Middle East, accusing oil producers there of unfairly controlling prices. Statements against the Organization of Petroleum Exporting Countries (OPEC) have been considered unfriendly to Gulf countries and Saudi Arabia, she noted. Munro added that such statements are likely to cause concern or “rattle” the oil market. They also might hurt already the U.S. relationship with Saudi Arabia, which she described as “fraying.” At least one nominee for Trump’s cabinet has strong ties to the oil industry. His choice for Secretary of State, Rex Tillerson, retired as chief executive officer at ExxonMobil earlier this month. Tillerson is to receive a retirement deal valued at $180 million from his former employer. Gerard praised the nomination as “world class.” He said Tillerson’s skills can represent the nation well. But Munro called the choice “oil-centric.” She wrote the nomination appears to show the growing influence of Russia on U.S. policy. She said this will create a mixed message for America’s Middle East allies. Tillerson has good relations with Russian President Vladimir Putin. Under his leadership, ExxonMobil has developed oil projects in Russia and also in the South China Sea, with Vietnam. Oil prices have been rising since OPEC members announced a deal to reduce production in late November. OPEC has historically had a difficult time enforcing its agreements, however. It is difficult to predict how the cartel’s latest move will affect prices this year.
Title: Experts Divided over How Trump Policies Will Affect Oil Industry
Content: <div id='article-page'><div id='article-content' data-media-url='//news-app-staging.s3.amazonaws.com' data-base-url='//news-app-staging.herokuapp.com' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/trump_oil.m4a' data-capture-url='//staging.analytics.lingraphica.com/events/capture_news' data-article-title='Experts Divided over How Trump Policies Will Affect Oil Industry' data-article-id='2130'><script src='//news-app-staging.herokuapp.com/javascripts/getscripts.js'></script><link rel='stylesheet' href='//news-app-staging.herokuapp.com/stylesheets/article.css' type='text/css' /><div class='article'><p><span data-start-time='0' data-end-time='14271'>Oil industry leaders and experts have conflicting opinions about what the policies of U.S. President-Elect Donald Trump could mean for the oil industry.</span> <span data-start-time='14271' data-end-time='22500'>Low oil prices have hurt profits for leading oil companies in recent years.</span> <span data-start-time='22500' data-end-time='29604'>However, prices are rising again, creating other problems.</span> <span data-start-time='29604' data-end-time='40188'>Jack Gerard is president of the American Petroleum Institute, a group that represents the oil industry.</span> <span data-start-time='40188' data-end-time='48625'>Gerard notes that Trump has promised to change regulations and reform taxes.</span> <span data-start-time='48625' data-end-time='56979'>He says that could help energy companies and lead to more oil industry jobs.</span> <span data-start-time='56979' data-end-time='67396'>Gerard said America’s oil and natural gas industries support 9.8 million jobs.</span> <span data-start-time='67396' data-end-time='80417'>He thinks the industry could create hundreds of thousands of additional jobs if what he called “smart” regulation was put in place.</span> <span data-start-time='80417' data-end-time='92854'>He says the “smart” rules would replace ones that appear to duplicate existing measures or are in competition with them.</span> <span data-start-time='92854' data-end-time='105333'>Other observers say some of Trump’s proposed policies and his statements present problems for international oil markets.</span> <span data-start-time='105333' data-end-time='110271'>Diane Munro is an oil industry expert.</span> <span data-start-time='110271' data-end-time='119250'>In December, she wrote a story for the Arab Gulf States Institute in Washington, DC.</span> <span data-start-time='119250' data-end-time='129146'>The non-profit group aims to increase understanding of the Gulf States in the United States.</span> <span data-start-time='129146' data-end-time='139521'>Munro wrote that some of Trump’s statements present, in her words, a “cauldron of contradictions.”</span> <span data-start-time='139521' data-end-time='149875'>For example, Trump has strongly criticized the 2015 nuclear agreement between Iran and world powers.</span> <span data-start-time='149875' data-end-time='161271'>The agreement eases many economic restrictions on Iran in return for limits on its nuclear activities.</span> <span data-start-time='161271' data-end-time='166979'>The president-elect said he would consider canceling the deal.</span> <span data-start-time='166979' data-end-time='181333'>Munro wrote that Trump also has threatened to ban oil imports from the Middle East, accusing oil producers there of unfairly controlling prices.</span> <span data-start-time='181333' data-end-time='196917'>Statements against the Organization of Petroleum Exporting Countries (OPEC) have been considered unfriendly to Gulf countries and Saudi Arabia, she noted.</span> <span data-start-time='196917' data-end-time='206542'>Munro added that such statements are likely to cause concern or “rattle” the oil market. </span> <span data-start-time='206542' data-end-time='217417'>They also might hurt already the U.S. relationship with Saudi Arabia, which she described as “fraying.”</span> <span data-start-time='217417' data-end-time='225333'>At least one nominee for Trump’s cabinet has strong ties to the oil industry.</span> <span data-start-time='225333' data-end-time='237729'>His choice for Secretary of State, Rex Tillerson, retired as chief executive officer at ExxonMobil earlier this month.</span> <span data-start-time='237729' data-end-time='248354'>Tillerson is to receive a retirement deal valued at $180 million from his former employer.</span> <span data-start-time='248354' data-end-time='254354'>Gerard praised the nomination as “world class.”</span> <span data-start-time='254354' data-end-time='260708'>He said Tillerson’s skills can represent the nation well.</span> <span data-start-time='260708' data-end-time='265271'>But Munro called the choice “oil-centric.”</span> <span data-start-time='265271' data-end-time='273708'>She wrote the nomination appears to show the growing influence of Russia on U.S. policy. </span> <span data-start-time='273708' data-end-time='281563'>She said this will create a mixed message for America’s Middle East allies.</span> <span data-start-time='281563' data-end-time='287750'>Tillerson has good relations with Russian President Vladimir Putin.</span> <span data-start-time='287750' data-end-time='299854'>Under his leadership, ExxonMobil has developed oil projects in Russia and also in the South China Sea, with Vietnam.</span> <span data-start-time='299854' data-end-time='309771'>Oil prices have been rising since OPEC members announced a deal to reduce production in late November.</span> <span data-start-time='309771' data-end-time='318042'>OPEC has historically had a difficult time enforcing its agreements, however.</span> <span data-start-time='318042' data-end-time='327479'>It is difficult to predict how the cartel’s latest move will affect prices this year.</span> </p></div><div class='control-buttons-sticky' style='display:none;'><div class='control-buttons'><button title='Back' class='back' disabled='disabled'></button><button title='Play' class='play' disabled='disabled'></button><button title='Pause' class='pause' style='display:none;'></button><button title='Forward' class='forward' disabled='disabled'></button><button class='finished-reading' style='display:none;'>Done</button></div></div></div><div id='article-media'><div id='media-image'><img src='https://news-app-production.s3.amazonaws.com/articles/1612/trump_oil.jpg'/></div></div><div id='question-content' style='display:none;'><div class='sentence_completion_question question-container' data-question-id=7899 data-hint-location='149875' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/the_agreement_eases__blank__restrictions_in_return_for_limits_on_nuclear_activities.m4a'>The agreement eases <span class='blank'>economic</span> restrictions in return for limits on nuclear activities.</div><div class='choices' data-correct-choice='economic'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/duplicate.m4a'><span>duplicate</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/unfair.m4a'><span>unfair</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/cultural.m4a'><span>cultural</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/economic.m4a'><span>economic</span></div></div></div><div class='vocabulary_question question-container' data-question-id=7900 data-hint-location='40188' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/what_does_regulation_mean.m4a'>What does regulation mean?</div><div class='choices' data-correct-choice='an official rule about how something should be done'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/conflicting_policy_opinions.m4a'><span>conflicting policy opinions</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/an_official_rule_about_how_something_should_be_done.m4a'><span>an official rule about how something should be done</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/statements_likely_to_cause_concern.m4a'><span>statements likely to cause concern</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/rules_that_replace_existing_measures.m4a'><span>rules that replace existing measures</span></div></div></div><div class='multiple_choice_question question-container' data-question-id=7901 data-hint-location='56979' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/how_many_jobs_are_supported_by_americas_gas_and_oil_industry.m4a'>How many jobs are supported by America's gas and oil industry?</div><div class='choices' data-correct-choice='nearly 10 million'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/2015.m4a'><span>2015</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/180_million.m4a'><span>180 million</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/hundreds_of_thousands.m4a'><span>hundreds of thousands</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1612/nearly_10_million.m4a'><span>nearly 10 million</span></div></div></div><div class='question-buttons'><button class='skip-button'></button><button class='hint-button'></button><button 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