Tired of getting screwed by Trump administration incompetence? You’re not alone.
The clown show that is Trump economic policy has collateral damage that it’s reached even his strongest supporters.
Politico Power Switch (email):
A quarterly survey of oil and gas companies released today by the Federal Reserve Bank of Dallas quotes industry executives who blast Trump on everything from tariffs and policy uncertainty to his attacks on renewable energy.
“Life is long, and the sword being wielded against the renewables industry right now will likely boomerang back in 3.5 years against traditional energy,” wrote one unnamed executive.
The comment cut a sharp contrast with Trump’s speech Tuesday at the United Nations, where he castigated countries for building renewable energy projects and boasted that “we have the most oil of any nation anywhere.”
“We stand ready to provide any country with abundant, affordable energy supplies if you need them, when most of you do,” Trump said.
American oil producers heavily backed Trump in last year’s presidential contest, but their simmering discontent with the president has emerged as an early theme of his second term.
Oil executives told the Dallas Fed earlier this year that Trump’s push to lower fuel prices, which lessens the economic incentive for producers to drill, was incompatible with his stated desire to increase production. The president’s decision to impose tariffs on a wide range of foreign products has driven up drilling costs at a time when producers are struggling with an oversupplied market, sluggish demand and weak prices.
Continue reading “Oil Patch Sours on Trump”





