{"id":16325,"date":"2025-03-27T20:00:28","date_gmt":"2025-03-27T20:00:28","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/03\/27\/oil-executives-bluntly-criticize-trump-tariffs-and-drill-baby-drill-mantra\/"},"modified":"2025-03-27T20:00:28","modified_gmt":"2025-03-27T20:00:28","slug":"oil-executives-bluntly-criticize-trump-tariffs-and-drill-baby-drill-mantra","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/03\/27\/oil-executives-bluntly-criticize-trump-tariffs-and-drill-baby-drill-mantra\/","title":{"rendered":"Oil executives bluntly criticize Trump tariffs and \u2018drill, baby, drill\u2019 mantra"},"content":{"rendered":"<p class=\"body-graf\">Oil executives are warning that President\u00a0Donald Trump\u2019s tariffs and \u201cdrill, baby, drill\u201d message have created uncertainty in energy markets that is already affecting investment.<\/p>\n<p class=\"body-graf\">The executives, shielded by anonymity, bluntly criticized Trump in their responses to a survey conducted by the\u00a0Federal Reserve Bank of Dallas\u00a0from March 12 to March 20.<\/p>\n<div><\/div>\n<p class=\"body-graf\">\u201cThe administration\u2019s chaos is a disaster for the commodity markets,\u201d one executive said. \u201d\u2018Drill, baby, drill\u2019 is nothing short of a myth and populist rallying cry. Tariff policy is impossible for us to predict and doesn\u2019t have a clear goal. We want more stability.\u201d<\/p>\n<p class=\"body-graf\">Several executives said Trump\u2019s\u00a0steel tariffs\u00a0are raising their costs, making it difficult to plan for future projects.<\/p>\n<p class=\"body-graf\">\u201cUncertainty around everything has sharply risen during the past quarter,\u201d another executive said. \u201cPlanning for new development is extremely difficult right now due to the uncertainty around steel-based products.\u201d<\/p>\n<p class=\"body-graf\">They also criticized the suggestion by White House advisers such as Peter Navarro that Trump\u2019s \u201cdrill, baby, drill\u201d agenda aims to push oil prices down to $50 a barrel to fight inflation.<\/p>\n<p class=\"body-graf\">\u201cThe threat of $50 oil prices by the administration has caused our firm to reduce its 2025 and 2026 capital expenditures,\u201d an executive said. \u201d\u2018Drill, baby, drill\u2019 does not work with $50 per barrel oil. Rigs will get dropped, employment in the oil industry will decrease, and U.S. oil production will decline as it did during COVID-19.\u201d<\/p>\n<p class=\"body-graf\">CNBC has asked the White House for comment.<\/p>\n<p class=\"body-graf\">The Dallas Fed Energy Survey is conducted every quarter with about 200 firms responding. The survey covers operators in Texas, southern New Mexico and northern Louisiana.<\/p>\n<p class=\"body-graf\">The scathing criticism in the Dallas Fed survey stood in contrast to major oil companies\u2019 public comments at the industry\u2019s big\u00a0energy conference in Houston\u00a0earlier this month.<\/p>\n<p class=\"body-graf\">Executives mostly praised Trump\u2019s energy team during the event and welcomed the administration\u2019s focus on increasing leasing and slashing red tape around permitting.<\/p>\n<\/p>\n<div>This post appeared first on NBC NEWS<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oil executives are warning that President\u00a0Donald Trump\u2019s tariffs and \u201cdrill, baby, drill\u201d message have created uncertainty in energy markets that is already affecting investment. The executives, shielded by anonymity, bluntly criticized Trump in their responses to a survey conducted by the\u00a0Federal Reserve Bank of Dallas\u00a0from March 12 to March 20. \u201cThe administration\u2019s chaos is a [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":16326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/16325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=16325"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/16325\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/16326"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=16325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=16325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=16325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}