Trump promised to help Big Oil. Its revenues plummeted. Oil companies released their first quarterly earnings reports of Trump’s second term. They weren’t pretty. “I have never felt more uncertainty about our business in my entire 40-plus-year career.”

https://grist.org/climate-energy/trump-promised-to-help-big-oil-its-revenues-plummeted/

by mafco

24 comments

  1. FAFO. Talk about stupid people in an industry he bankrupted US oil production in 2018 by convincing Saudi to increase production to drive down prices for the midterm election elections Biden is elected and a drill like crazy because of the treaty Trump made with the Saudis gas prices have increased. Come 2023 2024 we are self sufficient in producing oil But that’s not good enough they gotta go for Trump Once again he wants oil at $50 a barrel which will bankrupt the industry again but reward his buddies in Saudi Arabia Drill baby drill was just a slogan to get votes you can’t drill baby drill at 50 bucks a barrel

  2. His cult thought it was pure genius. Another ART OF THE DEAL” . If he tells a business to do something, they should do the opposite. Flipping a coin will get better results.

  3. Most businesses depends on consumption. And oil companies need people to buy oil.

  5. No, he didn’t double cross the oil industry. He thinks he’s helping it. He’s just an idiot who has no clue what he’s doing with regards to the economy or energy policy. Or anything else for that matter.

  7. If you think that’s bad, just wait until Canada starts making deals to send a million or two barrels a day to other countries instead of feeding PADD 3.

  9. Im an engineer at a paper factory. On Wednesday they announced it’s shutting down in 60 days (WARN act).

    We weren’t super competitive to begin with, but the tariffs on steel and parts ultimately killed us.

    Trump talks about how the tariffs will incentivize companies to build. But how is anybody going to build when they can’t get steel at a good price? It doesn’t make sense.

    It’s why in industry we don’t just shoot from the hip. We do impact studies.

  10. Well Trump polices might cause one of the greatest drops in greenhouse gasses ever. The only thing is that it would be his economic policies not his energy policies

  11. Wait till the Russian oil floods the market! You’ll know who his real daddy is lol!

  12. Umm…bc oil companies don’t like cheap gas price?

    Why drill and increase supply just so oil companies can earn less?

  15. Aren’t there any GOP house/senate members that actually give a shit about their country? None? The Dems only need a few allies to put a stop to a lot of this madness.

  16. Then put your $$ behind anti trump for mid-term election. You’re gonna have to keep bending the knee and sucking his teets until you buckle down and ride his big fat white ass out of town.

  18. my husband works here in the oilfields of NW Oklahoma and the Texas panhandle and let me tell you….he is still working 14 hour days, 5 days a week… not slowing down

  19. Nothing destroy markets like chaos and uncertainty.

  20. When he says oil is only $1.90 or something,, this is the figure of the crude oil in the barrel befores it’s been processed and transported.

    This man is insane!

    There is no deals being made.

    China doesn’t need USA as much as USA needs China.

    Supplies are going to plummet and disappear next month.

    Job layoffs are coming.

    Suicides, shooters, alcoholism, drug use will increase during this economic downturn.

    Oh and also the national debt will go up another few trillion by the time Trump is done.

    Republicans control the house, the Senate and the oval office, blame should solely rest with them

  22. How much money did the oil lobby donate to Trump’s campaign?

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