Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Evan Vucci / AP
None of the oil industry execs gathered in Houston have been as overtly political or rah-rah-rah about Donald Trump as Harold Hamm. The billionaire fracking magnate opened a session about North American drilling by declaring Trump "unique in the political world because he keeps his promises."
For the industry overall, the vibe about the Trump era is that it will be positive for their business, but there's a few things that worry them too. Here's what they're psyched about:
- Trump's promises — and the early evidence — of easier, quicker permitting for pipelines and other infrastructure.
- The zeal of Trump and the GOP Congress to pull back on Obama-era regulations. But that said, number of analysts have emphasized in interviews that market fundamentals have way, way more to do with drilling and production decisions than regulations.
What they're concerned about:
- Trade. Trump's protectionism could be a problem for an industry with global supply chains and, for some companies, a global footprint too.
- The shape of the planned tax overhaul. They want lower rates but they're wary of, if not downright hostile to, the border adjustment tax. "I want to see the U.S. become more competitive, not burdening imports," Chevron CEO John Watson said onstage.