US President Donald Trump has long been a strong supporter of the oil industry, often praising its importance to the American economy. However, the question remains whether big oil companies reciprocate his admiration.
During his presidency, Trump named Rex Tillerson, former CEO of ExxonMobil, as Secretary of State, and Chris Wright, founder of Liberty Energy, as Head of the Department of Energy. This shows Trump’s commitment to promoting the interests of major oil firms.
Despite these appointments, shareholders of American supermajors have mixed feelings about their ties to Trump. While some appreciate his pro-drilling stance, others are concerned about the potential impact on environmental regulations and public perception.
The divide reflects the complexities of the US energy landscape, where economic interests often clash with environmental and social concerns. As the industry continues to evolve, investors will closely monitor how Trump’s policies shape the future of big oil.
Source: https://www.economist.com/business/2025/02/06/donald-trump-loves-big-oil-does-big-oil-love-him-back