Oil prices are falling because the projected world demand is being crushed by Trump’s tariffs. Those same tariffs are also driving up the cost of production. The American oil industry consequently is suffering from diminished profits.
Like the farmers, oil companies are among Trump’s biggest supporters. Trump even demanded $1 billion in campaign contributions from them last year in exchange for the additional profits that were bound to roll in. What do you suppose the oil company executives are thinking now?
Maybe they’ll ask for a bailout from American taxpayers, just like the farmers. Hey, it worked for Argentina.