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Oil execs furious with Trump as prices collapse — and it could hurt his re-election hopes

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As if Donald Trump doesn’t 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, Trump’s 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.

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“In interviewshalf 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,” Politico’s 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.

Lefebvre reports, “Trump’s favorability is quite low in Texas — 45 percent in a University of Texas/Texas Tribune poll from early February, before the coronavirus crisis — compared to other predominantly Republican states, and he similarly lags in next-door New Mexico, a Democratic-leaning state which he hopes to win.”

According to one oil exec who is a big Republican donor, the president and his aides fail to understand the longterm implications of the oil industry collapse.

“The president wants lower gas prices to a point, but this well exceeds that point, and the administration knows this,” explained Dan Eberhart, CEO of Canary LLC. “The bigger worry for the administration from what I understand is helping an industry that consumers think produces fountains of gold. People that have spoken to the White House – myself included – are concerned that the administration doesn’t realize that the U.S. oil industry will eventually cease to exist at sub-$30 oil.”

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Politico goes on to note that the White House refused to comment on the report.


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2020 Election

Biden demands Trump put aside ‘pettiness and ideology’ and reopen Obamacare exchanges to fight coronavirus

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On Friday, The Daily Beast reported that former Vice President Joe Biden is calling on President Donald Trump to end the "pettiness and ideology" and reopen Obamacare's health insurance marketplaces so uninsured Americans can obtain coverage and protect themselves against the coronavirus pandemic.

“During this outbreak, when health care coverage is more important than ever, Donald Trump is refusing to give those who have been uninsured access to the best resource we have: the Affordable Care Act’s marketplaces,” Biden told the Beast. “This is no time to put pettiness and ideology above helping those who are in the greatest need.”

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2020 Election

Trump’s path to re-election ‘smashed to splinters’ as his only achievement is swallowed up by the pandemic: report

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In a piece for Politico, Ben White writes that Donald Trump was going into November's election with only one achievement under his belt -- a healthy economy -- and now he has nothing left to run if he wants to be re-elected.

With all of the gains made in the stock market long gone due to the coronavirus pandemic and the collapse of oil prices, White claims that the president's campaign strategy lies in tatters.

"The fundamental pillars of Donald Trump’s presidency — a hot economy, strong job growth and a rocking stock market — are all being smashed to splinters by the ravaging coronavirus, which has shuttered much of the nation and now officially ended a streak of 113 months of job gains dating back to the end of the Great Recession a decade ago," he wrote before noting the explosion of unemployment claims -- over ten million so far -- that has the country reeling.

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2020 Election

Anti-science Christians who went ‘all in’ for Trump bear responsibility for COVID-19 crisis: religious extremism expert

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Appearing on MSNBC with host Ayman Mohyeldin, the author of a widely shared New York Times article on the dangerous rise of religious nationalism lambasted religious leaders who are still holding public services when the government is advising social isolation and claimed they are making things worse for the rest of the country.

Speaking with the host, Katherine Stewart, who is also the author of the book "The Power Worshipers," explained that years of anti-science rhetoric from the predominately rightwing evangelical movement is a contributing factor as to why the country is in the throes of a deadly pandemic that may lead to over 250,000 deaths.

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