'Trump rejects this and returns to the philosophy that other nations are all competitors, not potential partners, and that success lies not only in increasing your own production, but in damaging your rivals’ production – which ultimately will increase domestic production further.'

So Craig is on board with the Medhurst theory that Trump is deliberately sabotaging rivals. Confirmed in the comments:

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'Lee
June 29, 2026 at 10:35
Medhurst has been expanding on this for a while now, the US controlling energy which resonates with what you say 👍
https://substack.com/@richardmedhurst/note/p-196141950?r=86dtc4

craig Post author
June 29, 2026 at 12:41
Richard is very bright

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He also writes:

'The USA does not import hydrocarbons through the Strait of Hormuz. That fact is key to Trump’s thinking.'

Not sure if this is true, but I did a bit of research on the Qatari oil & gas industries and, while the govt progressively nationalised much of the production through QatarEnergy and others, there remain significant investments by western oil companies like Total, Conoco Phillips, Shell and Exxon Mobil. The latter are deeply involved in the LNG production efforts that Medhurst argues Trump has no problem writing off. One wonders what they would make of that, and why we haven't heard strong protests from that highly influential corporation.

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https://www.blackridgeresearch.com/blog/latest-list-of-top-upstream-downstream-oil-and-gas-petroleum-companies-qatar#toc-17-exxonmobil-qatar-ltd

1.9. ExxonMobil Qatar Ltd

oil & gas companies in qatar ExxonMobil

ExxonMobil has been a strategic energy partner to the State of Qatar for over 50 years, with a presence that spans the LNG value chain and domestic gas supply. The company is the largest international partner in Qatar’s LNG sector, with stakes in nine LNG trains and 27 of the world’s largest LNG carriers.

The company is also the only foreign participant in Qatar’s domestic gas projects, and a key contributor to research, development, and community outreach aligned with Qatar National Vision 2030.
Link Copied!
1.9.1. LNG Ventures

ExxonMobil plays a critical role in Qatar’s global LNG leadership. In partnership with QatarEnergy, the company has developed and operated some of the largest LNG projects globally:

Interest in 9 of Qatar’s 14 LNG trains

Partner in QatarEnergy LNG N(1) (formerly Qatargas 1) until 2021

Partner in LNG ventures globally, including the South Hook LNG terminal in the UK and Golden Pass LNG in the U.S.

Co-developed Qatar’s largest condensate refinery

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1.9.2. Domestic Gas Projects

ExxonMobil is the sole international company involved in Qatar’s domestic gas supply.

Al-Khaleej Gas (AKG)

Launched in 2000, AKG was designed to utilize North Field reserves for domestic gas supply, supporting industrial development and national growth.

Barzan Gas

The Barzan Gas Project further extends ExxonMobil’s domestic impact. Operated by QatarEnergy LNG, this venture supplies gas to the local market and produces essential byproducts. ExxonMobil holds a 7% share, with QatarEnergy owning 93%.

International Projects

ExxonMobil and QatarEnergy collaborate on global LNG infrastructure, including:

South Hook LNG Terminal, Wales (LNG receiving)

Golden Pass LNG Export Facility, Texas, USA

Additional partnerships in Brazil, Cyprus, Argentina, Egypt, and Canada

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Broader history, incl other gulf countries:

https://www.historyofoilgasinqatar.com/module-2

cheers,
I