President Trump Warns Big Oil Not to Vote for Democrats

President Trump Warns Big Oil Not to Vote for Democrats

$USO, $OIL, $BP

White House economic adviser Larry Kudlow said President Trump recently warned Big Oil officials that they had better hope he wins re-election as the Democrats wage a war against fossil fuels.

Mr. Kudlow said that the exchange came as President Trump recently held a closed-door meeting with top business executives at the headquarters of the Business Roundtable (BRT) near the Capitol. The association was holding its quarterly meeting with an estimated 100 CEOs from businesses across the United States.

During the question-and-answer period, a German from one of the big oil companies asked about a war against fossil fuel, Mr. Kudlow said, speculating that the question dealt with the “Green New Deal,” a Democratic initiative seeking to radically reduce US dependence on fossil fuels.

Mr. Kudlow said the German asked President Trump what help could be obtained.

“And President looked him straight in the eye and said, ‘Better hope I am re-elected’”

He said although the President said it in a joking manner, President Trump added that “I know some of you will go out and vote for the Democrats. But you really ought to think twice about it, what they are going to do to the economy with their Socialist policies.”

Mr. Kudlow said Trump’s declaration “was really well received” by the BRT.

“The people on the left of just going so far Socialist, it’s almost like they are not in the game,” Mr. Kudlow said.

In a statement, the association said the discussion was “constructive and wide-ranging” and covered a variety of issues including ways to make further progress on regulatory reform and winning congressional passage of the United States-Canada-Mexico trade agreement.

Energy companies including BP (NYSE:BP) have increased their investments in renewable energies such as solar and wind in recent years as they look for a new business model in a world seeking to reduce CO2 emissions.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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