Among those excited about President Trump’s decision this week to reverse President Obama’s moves to block the Keystone XL pipeline and stop further construction of the Dakota Access pipeline is Harold Hamm.
The chairman of Continental Resources based in Oklahoma City and one-time energy adviser to Trump during his 2016 run for the White House reacted positively after Trump’s announcement Monday morning.
But Hamm reportedly told Politico’s Morning Energy Report his company “has no barrels” on either project. He said he did not stand to gain from the projects.
“Certainly that infrastructure was needed and necessary,” he said, but added that the market might alter the decision of the developers of the Keystone XL.
“Tar sands output isn’t what it was,” said Hamm.
Others who are critical of what President Trump did Hamm would stand to gain economically from the decision because of his company’s massive involvement in oil production in North Dakota. Continental is the biggest oil producer in the state and both pipelines would help move oil to customers.
“My goodness,” said Hamm at an industry event in December, “that’s a pipeline that is certainly needed. It brings the best, highest quality crude oil from the Bakken to the population centers.”
Because of his contributions to the Trump campaign and his role as Trump’s energy adviser, Hamm had a close view of the inauguration last Friday. He sat in the VIP box at the ceremony.