Shawdow194

Too much oil lowers prices and burns up profitability, even though it might make consumers happy. American shale firms are already pumping historic amounts of oil. And there’s a supply glut in the global market.

“As crude prices come down, we expect the industry revenues to go down and profits to go down,” ExxonMobile CEO Darren Woods told CNBC last week.

He did run on that and Republicans ate it up…

https://apnews.com/article/coast-guard-homeland-security-priorities-committees-trump-tsa-d3e4398c8871ada8d0590859442e092c