Drilling and the election

The US drilling boom seems to be taking a breather. The Baker Hughes rig count, at 1,837 the week of Oct. 5, was down 11 units from the previous week and down 175 units from the same week of 2011. Orders are down in many parts of the service and supply industry. While drilling for natural gas has been suppressed for months by moribund prices of the commodity, oil drilling is sagging now, although the crude oil price remains high enough to sustain activity in the shale and other resource plays now brightening prospects for US oil supply. So why the breather? Much of the answer relates to the approach of a pivotal general election. Radical differences For the oil and gas industry, President...

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