Tags: kudlow | trump | big oil | demos | socialist

Kudlow: Trump Warns Big Oil Not to Vote for Dems

Kudlow: Trump Warns Big Oil Not to Vote for Dems
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Monday, 25 March 2019 03:39 PM

White House economic adviser Larry Kudlow said President Donald Trump recently warned big oil officials that they had better hope he wins re-election as the Democrats wage a war against fossil fuels.

The veteran financial guru and former Ronald Reagan adviser recently told Fox Business Network that the exchange came when Trump recently held a closed-door meeting with top business executives at the headquarters of the Business Roundtable (BRT) near the Capitol. The association was holding its quarterly meeting with an estimated 100 chief executive officers from businesses across the United States.

During the question-and-answer period, a German man from one of the big oil companies asked about the Democrats' apparent war against fossil fuels, Kudlow said, speculating that the question dealt with the “Green New Deal,” a Democratic initiative seeking to radically reduce U.S. dependence on fossil fuels. Kudlow said the German asked Trump what help could be obtained.

“And the president looked him straight in the eye and said, ‘Better hope I am re-elected,’” Kudlow told Fox Business Network.

Kudlow said although the president said it in a joking manner, Trump added that “I know some of you will go out and vote for the Democrats. But you really ought to think twice about it, what they are going to do to the economy with their Socialist policies.”

Trump’s declaration “was really well received” by the BRT, said Kudlow, who worked as Reagan’s budget deputy between 1981 and 1985.

Trump “talked about the success of the economy. He talked about how he is trying to rebuild America. Right here at home, rebuild America, lower taxes and deregulation and opening up energy and trade reforms,” said Kudlow, who served as the Trump campaign's senior economic adviser.

“The people on the left of just going so far Socialist, it's almost like they are not in the game,” said Kudlow, assistant to the president for economic policy and director of the White House’s National Economic Council.

In a statement, the association said the discussion was “constructive and wide-ranging” and covered a variety of issues including ways to make further progress on regulatory reform and winning congressional passage of the United States-Canada-Mexico trade agreement, the Associated Press reported.

The head of the Business Roundtable is Jamie Dimon, chairman and CEO of JP Morgan Chase. Dimon had boasted last year that he could beat Trump in a presidential race, prompting Trump to label Dimon as someone not smart enough to run the country. Their recent statements, however, have been less harsh.

For his part, The oil industry should engage with proponents of the Green New Deal,BP Chief Executive Officer Bob Dudley said.

Dudley made the rare foray into U.S. politics in a keynote speech at the largest U.S. annual gathering of the oil and natural gas sector in Houston, urging peers to engage with young people or lose the trust of society, Reuters reported.

“We need to demonstrate that we share the common goal of a low-carbon future and that we are in action toward it,” Dudley said in the speech at the CERAWeek conference by IHS Markit.

Burning of oil and gas accounts for the majority of greenhouse gas emissions blamed for climate change, rising sea levels and severe storms.

Energy companies including BP have increased their investments in renewable energies such as solar and wind in recent years as they look for a new business model in a world seeking to reduce carbon emissions.

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White House economic adviser Larry Kudlow said President Donald Trump recently warned big oil officials that they had better hope he wins re-election as the Democrats wage a war against fossil fuels.
kudlow, trump, big oil, demos, socialist
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2019-39-25
Monday, 25 March 2019 03:39 PM
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