r/oil • u/Majano57 • 1d ago
News Oil Execs Warn Privately That Trump’s ‘Chaos’ Could Be ‘Disaster’ for Their Industry
https://www.desmog.com/2025/04/04/oil-execs-warn-privately-that-trumps-chaos-could-be-disaster-for-their-industry/20
u/Dmbeeson85 1d ago
It's not private... Almost every small e&p group I know was questioning the 'drill baby drill' bullshit right off.
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u/Reddit_Talent_Coach 1d ago
Every time I hear that phrase I look at oil charts and think “nah, price can’t fetch that supply”.
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u/BannedByRWNJs 1d ago
But they still propped him up and helped him win. It’s insane that these guys were smart enough to get that rich, but too damn stupid to realize that Trump’s chaos might actually be a bad thing until now. Or does it even change anything? Does this even mean that they’d stop supporting him? They probably don’t even care if he’s burning the country down because they can just take their fortunes to their private islands and forget about it.
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u/Proper_Detective2529 1d ago
Us “too damn stupid” fellas know it doesn’t end in the 2nd inning. There’s quite a bit going on in policy at the federal and state level that geniuses such as yourself may not be aware of and so we have to consider that as well. Both “you” not being aware and the implications of policy.
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u/phaedrus897 1d ago
Maybe these multi millionaire Execs need to grow a spine and warn publicly.
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u/Slooters313 1d ago
Some of the wealthiest ones helped put him in office. They helped create the heritage foundation and propaganda shit like prageru. I don't see how this isn't what they wanted, Donald talked about it half his campaign.
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u/Davge107 1d ago
All these different groups and people that are getting screwed over thought since they supported him they be the exception and he wouldn’t do anything that hurt them. They were special. All the talk and everything about what he said he was going to do was just campaign talk and he didn’t really mean it or would do it. The media also sane washed everything and told us what he really meant no matter what he said.
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u/revolution2018 1d ago
They helped create the heritage foundation and propaganda shit like prageru.
Yup, I hope these execs see the this week's chaos and disaster as being the good times by Monday morning.
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u/zsreport 1d ago
It would be nice for them to be fucking honest for a change and admit that they knew Trump and his idiocy posed a threat to the industry.
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u/Fossilwench 1d ago
I am not sure csuite could have predicted the degree in which he's become a marionette doll. Am massively disappointed by Wright in this. Revealed as the prostitute he is. Daily Jim Jones on steroids sermon tweets. 🤦♀️
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u/Contemplationz 1d ago
Oil backed the dumbest bitch and now complains when they have to mount it.
Oil is complaining because OMAGA Bin Laden the economic terrorist enacted the dumbest trade policy known to man and sent oil down $9. China's economy is going to slow down further due to tariffs and their renewable deployment is going to destroy their oil imports.
You backed this dumb bitch, mount it. I don't care about your profits, you obviously don't care about the rest of the country.
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u/OutlandishnessNo3620 1d ago
We want lower oil prices to cut inflation. Lower inflation the fed can start cutting. Lower rates we escape a debt spiral and grow out of it.
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u/Ok_Task_7711 1d ago
Destroy our economy to lower interest rates on our loans, omg why hasn’t anyone thought about that before?? Maybe because thats like the stupidest shit anyone has ever come up with
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u/OutlandishnessNo3620 1d ago
That's what's happening, like or not.
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u/Ok_Task_7711 1d ago
If the economy goes down, revenue of the government goes down. There will be an even bigger deficit and we will have to borrow even more money to stimulate the economy. Lower interest rates would be a drop in the bucket compared to increase in deficit spending
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u/TryNotToAnyways2 12h ago
Alos, Trump is going to pass $6 tillion in tax cuts that will blow up the deficit. So we will be in a depression, jobless and have a BIGGER deficit. Fucking genius!
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u/Fossilwench 1d ago
this is so disconnected from reality. this sub a bastion of garbage now
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u/OutlandishnessNo3620 1d ago
OK how? Or is it just because?
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u/Next_Poem7318 1d ago
“I can’t afford my property tax so I’ll just burn down my house to lower its value!”
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u/BannedByRWNJs 1d ago
It’s like that old classic “if we make them pay taxes, they’ll just close down their businesses!”
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u/Popular-Jackfruit432 1d ago
Lower global oil prices with a 25% tax means increased prices domestically lol.
When no other country is allowed to buy American oil due to tariffs, American oil gets double fucked 🤣
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u/Tar_Gibbons 1d ago
This is 100% obnoxious MAGA cope and it’s wild that people believe this. I’m not sure how, after all we have seen from Trump, people can watch him roll out these ridiculous tariffs based on a trash formula and think “Gosh, look at him play 4D chess.” Go touch some grass.
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u/Ok_Income_2173 1d ago
Well congratluations. You get higher inflation instead and also a recession due to tariffs. No rate cuts. Stagflation. Debt spirals out of control. You win the "fell for it again" badge, again...
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u/Altruistic_Flower965 19h ago
Your going to get short term lower prices, just like during the COViD downturn. OPEC is already increasing production in the face of falling demand to cause as much pain as possible for American producers. This will mean higher long term energy cost. America with a high marginal production cost will never significantly impact oil prices. Continued reliance on an energy source that we have very little control over is bad for long term American prosperity.
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u/fufa_fafu 1d ago
Your gonna have the holy mother of all inflations with how your moron in chief is destroying American trade genius
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u/OutlandishnessNo3620 1d ago
Offset by lower energy prices and lower rates.
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u/myPOLopinions 1d ago
Omg, no.
Inflation WAS at a good level. By adding an import tax on everything, your dollar will go less far. Guess what you've made? Unnecessary inflation.
Interest rates were at their level because lowering them drives up inflation, and is used when the economy is actually struggling. The problem is, it wasn't.
So you want cheaper access to more money, causing inflation, to pay for things that cost more than they should... because the cost has been inflated?
You also think we're gonna drill baby drill while oil is not at a break even level? Everything about what you're arguing for is so illogical and economically unsound that I'm suspicious your might be one of his advisors.
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u/OutlandishnessNo3620 1d ago
Why are they mad about tarrifs if consumers are paying them? Opec just added 400k a day. Seems like they are on board.
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u/Ok_Income_2173 1d ago
Consumers pay the tariff, they can afford less, they buy less, lower revenues, everyone loses.
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u/outcastspidermonkey 1d ago
They voted for him.
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u/BannedByRWNJs 1d ago
And spent millions and millions of dollars to convince stupid people to vote for him, too. Citizens United brought the divisiveness and stupidity to our politics that made a Trump presidency possible.
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u/KwisatzHaderach94 7h ago
so am i supposed to like trump now? is he actually going to destroy the fossil fuel industry with his incompetent attempt to grow it? he does tend to kill anything he touches.
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u/AcanthisittaLive6135 1d ago
On one hand, I don’t underestimate the degree to which Texas oil execs (in particular) can maintain contradictory positions as between their business and political interests.
On the other hand, I’m not sure this specific study, or the this specific article’s claims, are entirely clear and coherent.
Because, even in Texas, there are oil execs who do understand the historical realities of the effects of dem vs rep administrations (with or without aligned congresses) - and as a result they do not, in fact, believe a repub admin entails good business for all strata of O&G. The article/survey doesn’t distinguish between those.
Meanwhile, the article talks about these comments coming from “big oil,” but says the survey is across 200 TX-headquartered O&G companies.
But the survey says it’s from not 200, instead 130 energy firms, including only 88 E&P firms (and 42 services firms).
Even at 88 E&P, is anyone familiar with the industry suggesting there are 88 “Big Oil” firms globally, much less just HQ’d in TX?
Which leaves me wondering what the article/survey also count as ‘executives’ - but I’ve lost the interest to dig.
Point of all this being:
While TX certainly has its fair share of true believer demagogues, who irrationally and simultaneously say they in all cases want both good business and rep admins — there meanwhile are oil execs, even in TX (but esp elsewhere, and esp foreign-owned E&P), have no delusions that the business is more complicated than “republican good for business.”
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u/Scabies_for_Babies 1d ago
I suspect many Americans are dumb enough to celebrate the short-term dip in oil prices as proof of Trump's success on reducing energy costs in spite of the fact that they will drive producers out of the market fairly quickly and then prices will end up higher than they were before.
Kind of funny for people who love fossil fuels and don't want to reduce dependence on them.
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u/MajesticBread9147 1d ago
the fact that they will drive producers out of the market fairly quickly and then prices will end up higher than they were before.
This isn't necessarily true, and assumes demand will go back up. Oil production is relatively inelastic, which is why only a ~10% drop in oil demand caused prices to plummet during covid.
China and Europe are electrifying vehicles quickly, and much of the rest of lower and middle income countries like Mexico are being flooded with cheap Chinese EVs, so many will "skip" technological progress like how many households across the world got cell phones before their country was able to wire most homes with landlines. The United States government and consumer base is somewhat stubborn but EV sales as a percentage of vehicles sold continue to rise.
The peak oil people were wrong in their prediction, they predicted oils fall would be a lack of supply, when in reality it will be a lack of demand.
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u/Fossilwench 22h ago
crude inelasticity is seen in physical markets not paper markets. paper markets exist in a casino. That is the disconnect.
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u/Confident-Security84 1d ago
It’s a good thing they don’t do it publicly otherwise we might understand what’s going on!
That’s sarcasm. This isn’t news as most of us with an even marginally functioning brain already know this.
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u/Boxofmagnets 1d ago edited 1d ago
The thing about oil executives is they are just as stupid as everyone else, maybe more so because of the nature of the industry and the men (almost exclusively) hired for the management track are vetted.
Those guys were, in general, born with silver spoons in their mouths. They are no more in touch with the real world than Trump. They reside is an echo chamber with no one to tell them the day of the week. It’s easy to make money when your product is essential and unregulated
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u/snakebite2017 1d ago
The most important information I got from article is regulation barely adds to the cost yet they want to remove them.
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u/WhoReallyKnowsThis 1d ago
Like any of these smucks can with any sense of credibility and decency even say what the price will be in 12 hours!
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u/panda_sauce 1d ago
Direct link to the Fed survey comments: https://www.dallasfed.org/research/surveys/des/2025/2501#tab-comments
It's better reading than the OP's activist blogger.
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u/envy_digital 6h ago
So all of a sudden they're paying attention? What did it take? Hmmm let me guess, their bottom line ?!
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1d ago
[removed] — view removed comment
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u/Radiant-Bit-7722 1d ago
OPEC+ manages its interests without worrying about the USA, this has been going on for a while but this has not happened to Trump's brain. Biden's was excused because it was too damaged.
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u/CheesecakeOne5196 1d ago
Pussies. Man up and tell the nation.
Your going to be asked for bribes soon, so what have you got to lose. All this bribery shit he does is eventually going to be public. Do you really want to go down in history as an appeaseser to a traitor, and paid the traitor bribery on top of it.