General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsOil execs furious with Trump as prices collapse -- and it could hurt his re-election hopes
Published 1 min ago on March 24, 2020
By Tom Boggioni
As if Donald Trump doesnt have enough problems on his plate with the country crippled by the coronavirus pandemic that is causing the economy to collapse, now oil executives are furious with the president for cheering on the steep drop in oil prices.
According to a report from Politico, Trumps Twitter boast of Good for the consumer, gasoline prices coming down! on March 9th when prices dropped 25 percent infuriated oil execs who donated heavily to his 2016 campaign and it could come back to bite him in multiple ways as he gears up for re-election.
In interviews, half a dozen industry officials who have talked with White House officials in recent days described Trump as slow to comprehend the twin body blows a global pandemic and a price war between Saudi Arabia and Russia would have on an industry he has long supported, Politicos Ben Lefebvre wrote while pointing out that the industry employs hundreds of thousands of people in states key to any hope to beat his eventual Democratic rival for the presidency.
The collapse of the industry has already led to companies scaling back new projects such as one in swing state Pennsylvania that would have created new jobs at a time when unemployment is skyrocketing.
https://www.rawstory.com/2020/03/oil-execs-furious-with-trump-as-prices-collapse-and-it-could-hurt-his-re-election-hopes/
RockRaven
(14,950 posts)in a way which would benefit US oil producers. He's got no leverage over them (though they both behave as if they do over him), and lacks the discipline or intellect to exercise it to good effect even if he did.
That said, oil producers are death merchants, so no tears from me over their hardships.
turbinetree
(24,688 posts)cry me a tear..........................
I_UndergroundPanther
(12,462 posts)About whiney rich pigs.Let them suffer. Let the virus wipe them out.
Wuddles440
(1,121 posts)we, the little people who actually pay taxes, will have those funds "reallocated" into the personal bank accounts of those fuckers. It's always - privatize profits, socialize costs. Unfortunately, most of the cultist MAGAtts are just too stupid to realize that they're going to get scammed bigly.