The Chairman of Pioneer National Resources discusses the impact of trade sanctions and steel tariffs on the U.S. oil industry. While the U.S. is on track to produce 15 million barrels a day by 2026, tariffs on foreign steel are raising the cost of piping by up to 30%. Additionally, the potential for Chinese tariffs on U.S. oil exports—currently at 300,000 barrels per day—poses a risk to the market.
