Turmoil, Tariffs are Undermining Trump’s Rhetoric on Oil and Gas
When Trump took office back in January, he vowed to support renewed production by the oil and gas industry. His executive orders during the first days of his administration sought to encourage additional exploration for oil and gas within the country while also stifling renewable energy. However, the events unfolding since those initial days in office are having the effect of alienating the very sector he promised to support. When the president announced his “Liberation Day” tariffs, the stocks of oil drillers took a major hit and approximately $280 billion in stock value was wiped off their books during the…