A Trump Texas Oil Deal Opens the Door to a Green New Deal
Big government won’t always be the friend of shaky frackers.
An oil-friendly government, for now.
Photographer: AFP Contributor/AFP/Getty Images
If President Donald Trump is floating the idea of the U.S. sitting down with OPEC, and the Texas Railroad Commission is offering to help, then oil must be having a normal one.
Oil prices and equities lurched up off the floor Thursday after Trump said he might intervene in the Saudi-Russian price war at the “appropriate time.” It’s a tad vague and perhaps should be judged in light of the president’s sense of timing (and veracity) on that other crisis he’s nominally overseeing. Still, Ryan Sitton, the outgoing Railroad Commissioner, who was happy to see West Texas lit up like a gas-fired carnival if it meant more barrels, also chimed in. In an op-ed published by Bloomberg Opinion today, he now proposes curbing 10% of Texas production to tee up a grand bargain with Saudi Arabia and Russia.