They're that massive. So the majors will survive a drop. But what happens if we see $40 oil? You'll see bankruptcy, bankruptcies throughout the Permian basin of the small producers. And When small producers go away, it weakens America's ability to produce oil and makes us more dependent on foreign adversaries. adversaries. So I think 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. (26:57–27:07)
CLAIM
Asserts that the loss of small producers impacts U.S. energy independence.
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