You Don't Say!! Oil & Gas CEOs Worried That Shitstain's Government By MethamphetamineTantrum Could Hurt Their Business
“Chaos.” “A disaster.” “Uncertainty.” “Very negative.” That’s a sample of the reactions to Trump’s first few months published in the latest Dallas Fed Energy Survey, which gives executives from nearly 200 oil companies headquartered in Texas the chance to speak anonymously about burning issues inside the oil industry. The closely-watched oil patch survey released last week exposed an emerging gap between Trump’s MAGA movement and the financial interests of some of its biggest corporate funders.
Big oil poured hundreds of millions of dollars into Trump’s re-election campaign and down-ballot GOP candidates last year, including an $80 million advertising spree — not counting undisclosed “dark money” funding. Fossil fuel fortunes have funded Project 2025 and its backers, alongside even more extreme far-right Trump-era policy blueprints. But Trump’s tariffs, rising steel prices, and his sledgehammer approach to the administrative state are starting to unnerve oil and gas executives — at least in the anonymous survey conducted quarterly by the Dallas Fed. “The administration’s chaos is a disaster for the commodity markets,” one comment compiled by the Dallas Fed reads. “‘Drill, baby, drill’ is nothing short of a myth and populist rallying cry.” “I have never felt more uncertainty about our business in my entire 40-plus-year career,” another commenter said.
Trump’s push for $50-a-barrel oil prices also drew howls of outrage from the industry — at least in the Dallas Fed’s survey responses, which are cleansed of identifying details before they’re published, offering oil executives a chance to speak candidly. Amid Trump’s tariff threats, the price of a barrel of West Texas Intermediate oil — the kind of oil that comes from fracking in the Permian basin — collapsed this week to roughly $65. That’s a big problem for oil drillers, who’d told the Survey that they need West Texas oil prices to average at least $65 a barrel to profitably drill a new well.
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Big Oil specifically sought for decades to inject uncertainty into the political discourse. Back in 1998 — nearly a decade before the first episode of The Apprentice aired, back when Trump was a troubled casino magnate — leakers first revealed a secret multi-million–dollar campaign from the American Petroleum Institute to promote “uncertainties” on climate change in the public arena. Plus, the oil those companies sell directly plays a major role in ratcheting up uncertainty not just for the financial climate, but also the physical climate of the entire planet. “Fossil fuels — coal, oil and gas — are by far the largest contributor to global climate change, accounting for over 75 per cent of global greenhouse gas emissions and nearly 90 per cent of all carbon dioxide emissions,” the United Nations notes. As a result, wildfires, hurricanes, and flooding have already become so damaging and unpredictable that the once-staid insurance industry is throwing up its arms and walking away from entire regions, creating “insurance deserts” — and experts say what we’ve seen so far is only a small taste of what climate change has in store for all of us in the coming years and decades.
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https://www.desmog.com/2025/04/04/oil-execs-warn-privately-that-trumps-chaos-could-be-disaster-for-their-industry/
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