“Oligarchy”: Trump exempts the big oil donors from the pricing package | Donald Trump

The prices scan revealed by Donald Trump on Wednesday includes an exemption for the energy sector, which is a clear sign of the president’s loyalty to his big oil donors on the American people, according to the defenders.

The new universal prices at 10% of Trump – which are higher for many large economies – are wreaking havoc on the world economy and are expected to increase consumer prices in the United States. However, samples will not apply to many fossil fuels products, including liquefied natural gas imports, Canada crude oil and the materials necessary to make petrochemics.

The oil interests have celebrated the Carveout: “We welcome the decision of President Trump to exclude oil and natural gas from the new prices, stressing the complexity of the integrated global energy markets and the importance of the role of America as an exporter of net energy,” wrote Mike Sommers, head of the first group of American fossil fuel lobbies, the American Petroleum Institute in a position of social networks. “We will continue to work with the Trump administration on trade policies that support the domination of American energy.”

The Sommers declaration was released Thursday by the White House in an information sheet.

The exemption occurred after the fossil fuels industry paid $ 96 million in the Trump re -election campaign and affiliated political action committees, while he is committed to deregulate the sector and make environmental regulations back down. It was less than the $ 1 billion Trump asked the sector at a famous meeting in his Mar-A-Lago club, but still constituted record levels.

“The billionaires of oil and gas have just bought an exemption at Trump prices,” said Stevie O’hanlon, spokesperson for the Youth Group led by young people on Thursday. “While the rest of us has to face the arrow prices and increasing the temperatures, they are seated on their thrones and ratifying billions. We need an end of this oligarchy now.”

During the first three months of his second term, Trump made his promises to attack green policies. He also maintained a comfortable relationship with the industry, appointing a range of industry interests to his administration.

Last month, the president held a meeting with more than a dozen oil leaders at the White House, where he launched an energy exemption from his pricing package, according to the Washington Post, with a source saying to the outlet that he was not clear if Trump made a serious joke or political commitment.

The sculpture is expected to amortize the market and gas petroleum and gas sector caused by prices – something on which they have expressed their concern in recent weeks. But he did not completely protest them from the benefits.

Although prices do not apply directly to many petroleum and gas products, they could always increase production costs, samples from steel and aluminum increasing the construction costs of fossil fuel infrastructure. In addition, less than 24 hours after the announcement of the pricing package, the raw materials markets are recorded, oil prices falling on a negative territory – the result of lower fuel demand often stimulated by global economic growth.

“At this early stage, it is difficult to fully assess the long -term impact of these rates on the global economy, but there will undoubtedly be immediate and serious consequences,” wrote Claudio Galimberti, economist at Rystad Energy, in an analysis on Thursday.

Trump has repeatedly committed to fighting inflation and reducing invoices for ordinary Americans. However, its new prices could feed the increases in prices on everything, gases and cars in wine and chocolate, according to experts.

“Donald Trump is not content to break his promise to lower the prices of the Americans,” said Pete Jones, spokesperson for the Greens Power Greens Defense Group. “He ensures that they pay more while its billionaire oil donors pay less.”