President Donald Trump said today he has ordered his administration to rescue U.S. oil companies that have been battered by record low oil prices because of the coronavirus pandemic.. “I have instructed the Secretary of Energy and Secretary of the Treasury to formulate a plan which will make funds available so that these very important companies and jobs will be secured long into the future!”Spokespeople for the White House, Treasury and DOE did not immediately reply to questions.
U.S. May crude oil futures sunk deep into negative territory on Monday for the first time in history ahead their expiration today. That contract rebounded into positive territory early today, but was still trading at only $1.30 per barrel. The more active June futures contract was down $5 at $15.37 per barrel.
Why don't Republicans rescue HOSPITALS who suddenly need more money for PPE and lost revenue (ICU makes a lot less than elective surgeries). They truly need our help.
😡👎
Oil prices bouncing in early NY trading. Up 3 bucks. Oil stocks leading the S&P500 higher. OilPrice
What about financial aid for the unemployed and the college students whose lives are at a stand still?
They can take care of themselves
Good morning America welcome another day of fake opinion democrat propaganda outlet in the Democrat party attacking our country and our president enjoy your day
Flint still doesn’t have clean water
For his cronies. He negotiated the deal!
please creator, we get it! enough is enough! please take this beast back to its own realm. we get it!
Oil industry dont need any help. Their pockets are deep.
No
For God's sake! How much 'help' do billionaire businesses 'need'? Shameful!
This crisis started with Saudia Arabia and Russia. Granted the Coronavirus didn't help.
Because they are Republicans
Stop pumping up more oil from the ground for now.
Fuck that!!!
Maybe he should have bought the oil from ourselves. Remember buy American !!!
Giving again to the robbers! Trump has $$$$$$ invested is the reason!
His polling is in the toilet for how he's handled this crisis, so now he wants to bail out the same oil companies for whom he has relaxed environmental regulations. What's next, coal companies?
No!
nooooooooooooo!!!
We already heavily subsidize them. Let’s nationalize them. We’re practically supporting them anyway.
Odd how the Federal government 'couldn't afford' a 1% raise for its employees but there is unlimited money to bail out corporations.
Wow his priorities are fucked up! And oil companies will take it too. BlueWave
I think the Saudi and Russian refusal to lower production is a big part. Bailing out oil is just more proof that we don't even live in a capitalist economy. We live in a dual economy of socialism/oligarchy for rich, corps, banks and wall street.. and boot straps for the rest
Another BAIL OUT for BIG CORPORATIONS that does NOT pay any TAXES!!! Absolutely NO!!!!
They of course will throw money at the situation thats all they understand. They should change the Lease Regulations right away and allow them to Shut In ASAP. They should put limits on Imports of both products and crude. Ban LNG imports, Cheniere should supply Boston.
Poor oil companies.
Wow! Seriously? Figures. Cronies unite.
Donald’s mostly concerned about his donors.
More socialism
Hundreds of Millions in 'Donations' might play a part in his decision. Call me cynical.
Watch Donald put that little gift in the next stimulus bill... that originally had been planned for the hard hit cities and states... judtsaying persist vote2020
We are all doomed!
How about rescuing our people 1st
exxonmobil and conocophillips will be just fine, dude. They hire and lay off people at the drop of a hat according to the market demand, this is nothing new for us.
A headline I never thought I would see.
Why? They don’t need a bail out! They’re worth billions & their product is becoming outdated!!! Another instance of trump screwing up by his ‘negotiating’ a better deal between Russia & Saudi Arabia that backfired!
Filling the oil reserve is a good way. Only buy oil that was pumped from US oil wells.
Of course he did
Mitt? Let the oil industry go bankrupt?
At this point you can’t save these oil companies, Putin got what he set out to do,(squeeze shale producer out), forget saving these companies, let them file bankruptcy, let them fail, at this point your just throwing good $ after bad.
One more time we bail out the rich guys rather than the little guy. So sad.
What happen to their Billions and Billions in profits from the past couple years? Just another realDonaldTrump rich friends gift.
Course he did
Of course he did
What happened to free enterprise and the market approach to economics?
WTF? These guys have committed every corrupt act under God, let them go bankrupt.
Screw everyone else.
They still have the administration in their pocket. Screw the little guy but write out the check on the spot for trump's donors.
Are you kidding. They have screwed us for 100 years. Fuck um..
What were their profits for the last several years, the trump wants to use tax money to bail out companies that had billions in profit, really. The trump is using this pandemic to help his corporate buddies, what's new.
Are you kidding?!!! How about bailing American citizens out who are going to lose everything from this. They take all the profit out of their company by paying millions in bonuses. I get it. socialism only works for the rich.
There is an expression in French for this kind of favor returning 'send the elevator back'
Need a little more explanation. I don’t recall these same oil companies complaining while the price was 100 dollars a barrel or more. Why should taxpayers foot the bill? Persuade me?
Doesn’t the government already subsidize them at $10B a year
NO!
Rescue the oil companies When so many other small companies need it way more than they do.
Where is the big deal you made?
they have a shit load of money overseas. you freaking kidding me
Still waiting for economic aid to all the small businesses!
Aka my stocks are down I need to fix them so I don’t lose more money because that’s all I care about really.
No rescuing an industry already subsidized by the US that needs to stop existing for our planet to survive!
Douchebag
Still waiting for my unemployment benefits....
Disgusting. Utterly disgusting.
Why?
Corporate ATM
Can’t afford it.✌️
Is he freaking kidding?
But thats... Socialism! tell them to sink or swim, like us small ( less than 20 employees) have to do.
45 helps the oil company with public money, now oil companpanies can donate that money to help 45 re-election
At long last, who will speak for the oil barrons.?
If ever an industry didn’t need help.
Planned
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