U.S. weighs taking stakes in U.S. energy companies, says Mnuchin
Topics: U.S. MNUCHIN
President Donald Trump, speaking alongside Mnuchin at a White House event, said he wants to help the oil and gas industry and suggested the federal government could buy fuel for the country in advance as well as purchase airline tickets in advance.
“We’re looking at a whole bunch of alternatives,” Mnuchin said.
Trump also said that Russia and Saudi Arabia could make further production cuts amid the glut in the oil market amid the pandemic, adding that Texas, Oklahoma and North Dakota are cutting production as well as Canada.
“It’s going to be natural at this point,” Trump said of such cuts. ■