But what happens if we see $40 oil? You'll see bankruptcy bankruptcies throughout the Permian basin of the small producers. And when those guys go away, those are the guys driving production. And What it does is it weakens America's ability to produce oil and makes us more dependent on foreign adversaries. So I think what, what President Trump and the administration is trying to do is stay in A sweet spot where oil is low enough that our enemies are weakened, but not so low that we're devastating U.S. small businesses. (04:49–04:58)
CLAIM
Asserts that low oil prices weaken U.S. oil production and increase dependency on foreign oil.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
