I do not give Trump any credit for manipulating supply and
Posted on: March 9, 2022 at 13:49:28 CT
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keeping US companies in business. Probably his biggest contribution to the oil industry was dropping the corporate tax rate from 35% to 21%. That might have provided at least some companies enough cash reserve to make it through the last downturn. One of the things that needed to happen in the US and I give Trump full credit for pushing that through.
Usually when US oil companies get near bankruptcy, they look for suitors. That at least gives the shareholders some return on their investment and spares at least a percentage of their employees. It also means their assets keep producing and the buying company is in theory more lean and able to secure new resources (at least that's what they tell Wall Street). So the impact of losing a company is probably less than you think.