POLITICO Energy Why the oil and gas industry is publicly staying mum on Trump’s tariffs
Apr 8, 2025
The oil and gas industry is surprisingly silent on the implications of President Trump's new tariffs, raising questions about their public relations strategy. Behind closed doors, industry insiders express worry over declining oil prices and OPEC's increased production. The discussion highlights the challenges stemming from recent trade policies, cautious responses, and the potential for operational impacts. Additionally, there's a focus on EPA's approval of carbon capture projects, signaling a shift toward more innovative solutions amid uncertainty.
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Oil Industry Hurt by Tariffs
- The oil and gas industry is hurting due to low oil prices and falling stock prices.
- US oil production growth is expected to flatten, impacting President Trump's ability to boast about it.
Lower Gas Prices, But at What Cost?
- Lower oil prices lead to lower gasoline prices, which the Trump administration is highlighting.
- However, a potential recession and increased OPEC production complicate the situation.
Industry's Silence on Tariffs
- The oil and gas industry is hesitant to publicly criticize Trump's trade policies.
- They fear retaliation and are unsure if the tariffs will remain in place.