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Page added on December 2, 2016
Harold Hamm Rejects Trump’s Offer of Energy Secretary
Energy mogul Harold Hamm will not be taking President-Elect Trump up on his offer to name him Energy Secretary, according to Fox News.
Hamm, who yesterday cleared a cool $3 billion in less than three hours off his shares in Continental Resources Inc. after the Organization of Petroleum Exporting Countries (OPEC) announced that it had finally agreed to cap its production at 32.5 million barrels per day, also serves as the CEO of Continental Resources, which is clearly a full-time gig when he’s not busy raking in billions on the back of OPEC deals.
Hamm, whose net worth was previously estimated to be $13.8 billion, has served as Donald Trump’s energy advisor and has long been considered a front runner for the position of Energy Secretary.
“I am not considering the job,” Hamm said to Fox Business Network on Thursday.
According to Hamm, he’s happy assisting Trump from the sidelines, and is optimistic about America’s oil and gas industry under the new administration, which he sees as less regulation happy—particularly around fracking—and less tax happy.
Before the elections, Hamm called these regulations “death by a thousand cuts.” And Hamm would know, because Continental Resources was a pioneer in making oil from shale rock profitable in North Dakota.
Speaking of North Dakota, in his stead, Harold Hamm offered Trump an alternative Energy Secretary nominee: Rep. Kevin Cramer from North Dakota. In fact, Hamm said he thought Cramer would do a better job than he would.
“Kevin’s a great guy, and he would be a perfect candidate, as well. I’ve put his name forward.”
Cramer has served as a congressman in North Dakota since 2012, and before that, he served as North Dakota’s utility regulator. Like Hamm, Cramer has been an advisor to Donald Trump on energy policy, writing two papers on the subject for him. Cramer considers himself a climate-change skeptic, but would likely steer Trump towards more neutral territory from his brash comments during the campaign about how the whole climate change thing is a hoax.
Speaking to how he would direct Trump, Cramer said, “… my advice would be, while I’m a skeptic, as well, he is a product of political populism, and political populism believes that there needs [to be] some addressing of climate change.”
By Julianne Geiger for Oilprice.com
14 Comments on "Harold Hamm Rejects Trump’s Offer of Energy Secretary"
Apneaman on Fri, 2nd Dec 2016 11:27 am
The Duck is having a hard time getting his billionaires lined up.
How about, Bill Gates as technology cazar? Oh, I know, Warren Buffett as minister of Railroads and mandatory insurance. Why not spring Bernie Madoff from the joint, with a full pardon, and appoint him treasury secretary?
Apneaman on Fri, 2nd Dec 2016 11:28 am
Whaddaya Do When Reptiles Are Running The Show?
http://www.declineoftheempire.com/2016/12/whaddaya-do-when-reptiles-are-running-the-show.html
rockman on Fri, 2nd Dec 2016 11:35 am
“In fact, Hamm said he thought Cramer would do a better job than he would.” Don’t know anything about Cramer but IMHO my miniature Schnauzer would make a better SecEn then Hamm. LOL.
penury on Fri, 2nd Dec 2016 11:44 am
Does anyone think that which billionaire is appointed to what position will make any difference in what is happening in the country? What we have is the BONICA situation be happy, nothing changes except the tone of the voice telling everyone to “be happy” things are getting better every day.
penury on Fri, 2nd Dec 2016 11:46 am
previous entry should read BOHICA, Ny typing gets worse every day.
dave thompson on Fri, 2nd Dec 2016 12:36 pm
“And Hamm would know, because Continental Resources was a pioneer in making oil from shale rock profitable in North Dakota.” Hamm may have made money how about all the investors left holding the shale oil sham bag?
Apneaman on Fri, 2nd Dec 2016 2:43 pm
“Over the last twenty years, more than 9,000 significant pipeline-related incidents have taken place nationwide, according to data from the Pipeline and Hazardous Materials Safety Administration. The accidents have resulted in 548 deaths, 2,576 injuries, and over $8.5 billion in financial damages. (Not counted in this total are thousands of less “significant” pipeline-related malfunctions.)”
http://www.citylab.com/weather/2016/11/30-years-of-pipeline-accidents-mapped/509066/
Anonymous on Fri, 2nd Dec 2016 2:58 pm
Why would hamm sandwich there want to be in the government, when him and his fellow oilgarchs already ARE the uS govt? Being in the formal ‘gov’, which just be a huge distraction from this real job. Not to mention a massive pay cut.
Dredd on Fri, 2nd Dec 2016 3:29 pm
He may have saved himself by declining (Will Elections Cure The Disease? – 3).
shortonoil on Fri, 2nd Dec 2016 5:48 pm
We don’t have the financials on Continental Resources Inc. but we have them on their largest competitor in the Shale industry.
EOG Resources Inc. December 31, 2015
Gross profit margin 75.13%
Operating profit margin (-76.35%)
Net Profit Margin (-51.66%)
ROE (return on equity) (-34.96%)
ROA (return on assets) (-16.77%)
It appears that the Shale industry is now a dead duck waiting for just the right sauce to finish off a well cooked bird.
Anonymous on Fri, 2nd Dec 2016 6:21 pm
His company may well be losing money, but somehow, I doubt Hamm and Cheese himself has suffered any actual financial setbacks.
Go Speed Racer on Fri, 2nd Dec 2016 6:58 pm
They just hamming it up.
Sissyfuss on Fri, 2nd Dec 2016 8:43 pm
That looks like the picture of a miserable sociopath without meaning.
Mark Ziegler on Sat, 3rd Dec 2016 10:12 am
Hamm, whose net worth was previously estimated to be $13.8 billion, has served as Donald Trump’s energy advisor and has long been considered a front runner for the position of Energy Secretary.
Like Hamm, Cramer has been an advisor to Donald Trump on energy policy, writing two papers on the subject for him. Cramer considers himself a climate-change skeptic, but would likely steer Trump towards more neutral territory from his brash comments during the campaign about how the whole climate change thing is a hoax.
Perhaps these guy can write papers for me so I can have my very own energy advisors.