Trump Seeks to Help Oil and Gas Industry as Millions Lose Jobs
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FEATURING JOHN NOEL – As thousands of Americans lost their lives, and millions lost jobs, Republican members of the House and Senate asked President Donald Trump to help the oil and gas industry. Obliging his party members, Trump met with the CEOs of Exxon Mobil, Chevron, Occidental Petroleum, and others at the White House to offer his help to an industry that perhaps needs the least amount of help.
For years oil and gas companies have received direct tax-payer subsidies, and have been among the most profitable sectors of the economy, as well as the most destructive to the environment. Now, with mass stay-at-home orders due to the coronavirus, oil prices have dropped precipitously. Trump has also claimed to intervene on behalf of big oil, saying he brokered a deal between Russia and Saudi Arabia to reduce production and thereby increase prices.