Trump Toadies Pleading W. Oil Majors To Drill Baby Drill: BP: "There Is No Potential Supply Response"
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Trump administration officials, including Energy Secretary Chris Wright and National Energy Dominance Council Executive Director Jarrod Agen, have been meeting with industry executives throughout the week in Houston and have projected confidence that oil companies will heed their calls to speed their drills. “Markets do what markets do,” Wright said on Monday, noting surging crude prices should encourage their companies to ramp up production. And Agen told the POLITICO Pub at CERAWeek that producers are “all on board” with the administration’s push and he’s heard no pushback.
But privately, members of the oil, natural gas, investment and insurance industries at CERAWeek expressed a mix of disbelief that the Trump administration thought it could quickly hobble Iran — and worries about how it will hurt their businesses and the broader economy.
ConocoPhillips CEO and Chair Ryan Lance said his conversations with administration officials have focused on protecting oil and gas fields, export plants, and refineries in the Middle East. “A lot of my conversations with the administration are really pleading to try to get some extra protection around the U.S.-owned assets in Qatar,” Lance said.
One investment analyst bemoaned to POLITICO that oil traders are having to make quick decisions based on Trump’s social media posts, only to see Trump deliver a starkly different message soon after. Oil markets have swung in a $40 range during the first three weeks of the war. BP’s Ramsay said he doubted producers would approve any production increases due to the conflict, calling the volatility in crude prices “not something any oil company wants to see. Over the sort of short time frame we’re talking about, at the moment, there is no supply response,” he said. “There is no potential supply response.”
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https://www.politico.com/news/2026/03/24/the-worst-ive-seen-oil-industry-grapples-with-the-fallout-from-trumps-war-with-iran-00841820
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their main source of revenue sinking rapidly. 
