OKAY.
ANYTHING ELSE?
ANYTHING ELSE?
REPORTER: MR. PRESIDENT, COULD
REPORTER: MR. PRESIDENT, COULD
YOU COMMENT A LITTLE BIT ON WHAT
YOU COMMENT A LITTLE BIT ON WHAT
YOU ARE CONSIDERING RIGHT NOW
YOU ARE CONSIDERING RIGHT NOW
FOR HELPING THE OIL AND GAS
FOR HELPING THE OIL AND GAS
INDUSTRY?
INDUSTRY?
>> I WANT TO HELP THAT INDUSTRY,
>> I WANT TO HELP THAT INDUSTRY,
THAT INDUSTRY GOT UNNECESSARILY
THAT INDUSTRY GOT UNNECESSARILY
HURT BY MASSIVE AMOUNTS OF OIL
HURT BY MASSIVE AMOUNTS OF OIL
BEING PRODUCED BY VERY BIG
BEING PRODUCED BY VERY BIG
COUNTRIES, OIL PRODUCING
COUNTRIES, OIL PRODUCING
COUNTRIES, AND THEY GOT CARRIED
COUNTRIES, AND THEY GOT CARRIED
AWAY.
AWAY.
AND I GOT INVOLVED WITH THOSE
AND I GOT INVOLVED WITH THOSE
TWO COUNTRIES TO HAVE THEM MAKE
TWO COUNTRIES TO HAVE THEM MAKE
PEACE WITH EACH OTHER BUT BY THE
PEACE WITH EACH OTHER BUT BY THE
TIME WE GET INVOLVED, ALL OF A
TIME WE GET INVOLVED, ALL OF A
SUDDEN THEY HAVE BILLIONS OF
SUDDEN THEY HAVE BILLIONS OF
BARRELS, THEY NEVER SAW ANYTHING
BARRELS, THEY NEVER SAW ANYTHING
LIKE IT.
LIKE IT.
EVERY TANKER IS LOADED UP WITH
EVERY TANKER IS LOADED UP WITH
OIL SITTING OUT IN THE OCEAN.
OIL SITTING OUT IN THE OCEAN.
OIL IS LESS THAN WATER.
OIL IS LESS THAN WATER.
NOBODY’S EVER SEEN ANYTHING LIKE
NOBODY’S EVER SEEN ANYTHING LIKE
IT.
IT.
NOW, IN MANY RESPECTS FOR OUR
NOW, IN MANY RESPECTS FOR OUR
COUNTRY, AUTOMOBILES AND
COUNTRY, AUTOMOBILES AND
AIRPLANES AND ALL THE THINGS YOU
AIRPLANES AND ALL THE THINGS YOU
HAVE TO DO WITH THE AIRLINES,
HAVE TO DO WITH THE AIRLINES,
WE’RE TRYING TO MAKE THE
WE’RE TRYING TO MAKE THE
AIRLINES WORK AGAIN AND WE WILL,
AIRLINES WORK AGAIN AND WE WILL,
WE JUST PROVIDED FINANCING FOR
WE JUST PROVIDED FINANCING FOR
THEM WHICH WAS GREAT.
THEM WHICH WAS GREAT.
WE ARE GOING TO KEEP OUR
WE ARE GOING TO KEEP OUR
AIRLINES AND ALL THOSE EMPLOYEES
AIRLINES AND ALL THOSE EMPLOYEES
TOTALLY INTACT SO IN SOME WAYS,
TOTALLY INTACT SO IN SOME WAYS,
THE FUEL COST IS VERY LOW BUT
THE FUEL COST IS VERY LOW BUT
I’M AN ENERGY PERSON.
I’M AN ENERGY PERSON.
I LOVE THE ENERGY BUSINESS.
I LOVE THE ENERGY BUSINESS.
WE ARE ENERGY INDEPENDENT.
WE ARE ENERGY INDEPENDENT.
WE ARE GOING TO STAY THAT WAY.
WE ARE GOING TO STAY THAT WAY.
WE ARE ALSO FILLING UP AS YOU
WE ARE ALSO FILLING UP AS YOU
KNOW OUR NATIONAL STRATEGIC
KNOW OUR NATIONAL STRATEGIC
RESERVES AND WE ARE FILLING UP
RESERVES AND WE ARE FILLING UP
LIKE NEVER BEFORE AND WE ARE
LIKE NEVER BEFORE AND WE ARE
FRANKLY GETTING VERY GOOD
FRANKLY GETTING VERY GOOD
PRICES, OKAY, AS WE SHOULD.
PRICES, OKAY, AS WE SHOULD.
VERY GOOD PRICES.
VERY GOOD PRICES.
SO WE ARE FILLING UP THE
SO WE ARE FILLING UP THE
RESERVE.
RESERVE.
THAT’S 75 MILLION BARRELS.
THAT’S 75 MILLION BARRELS.
WE ARE GOING TO HAVE THAT FILLED
WE ARE GOING TO HAVE THAT FILLED
UP PRETTY SOON SO IT WILL BE
UP PRETTY SOON SO IT WILL BE
FILLED FOR THE FIRST TIME IN A
FILLED FOR THE FIRST TIME IN A
LONG TIME AND WE’RE DOING IT AT
LONG TIME AND WE’RE DOING IT AT
A VERY VERY LOW COST.
A VERY VERY LOW COST.
SO IT’S GOOD.
SO IT’S GOOD.
NOW, IT WILL COME BACK WHEN THE
NOW, IT WILL COME BACK WHEN THE
VIRUS IS GONE.
VIRUS IS GONE.
THEY LOST 40% OF THEIR MARKET
THEY LOST 40% OF THEIR MARKET
BECAUSE OF THE VIRUS, IN ALL
BECAUSE OF THE VIRUS, IN ALL
FAIRNESS TO EVEN THE PRODUCERS,
FAIRNESS TO EVEN THE PRODUCERS,
AND EVEN THE COUNTRIES, THEY
AND EVEN THE COUNTRIES, THEY
LOST 40% OF THEIR MARKET BECAUSE
LOST 40% OF THEIR MARKET BECAUSE
PEOPLE AREN’T DRIVING
PEOPLE AREN’T DRIVING
AUTOMOBILES, THEY’RE NOT DOING
AUTOMOBILES, THEY’RE NOT DOING
ANYTHING.
ANYTHING.
SO ALL OF A SUDDEN, THEY’RE NOT
SO ALL OF A SUDDEN, THEY’RE NOT
FLYING IN AIRPLANES, THE AIRLINE
FLYING IN AIRPLANES, THE AIRLINE
BUSINESS IS ESSENTIALLY SHUT
BUSINESS IS ESSENTIALLY SHUT
DOWN.
DOWN.
SO ALL OF THIS MASSIVE AMOUNT OF
SO ALL OF THIS MASSIVE AMOUNT OF
FUEL, AND THIS IS ALL OVER THE
FUEL, AND THIS IS ALL OVER THE
WORLD, THIS ISN’T HERE, THIS IS
WORLD, THIS ISN’T HERE, THIS IS
IN VIRTUALLY EVERY COUNTRY.
IN VIRTUALLY EVERY COUNTRY.
I WOULD PROBABLY SAY AS YOU
I WOULD PROBABLY SAY AS YOU
KNOW, I HAVE BEEN TALKING ABOUT
KNOW, I HAVE BEEN TALKING ABOUT
184 COUNTRIES, PROBABLY MORE
184 COUNTRIES, PROBABLY MORE
THAN THAT NOW.
THAN THAT NOW.
184, FRIEND OF MINE SAID VERY
184, FRIEND OF MINE SAID VERY
SOPHISTICATED FRIEND SAID I
SOPHISTICATED FRIEND SAID I
NEVER KNEW YOU HAD 184
NEVER KNEW YOU HAD 184
COUNTRIES.
COUNTRIES.
WE ACTUALLY HAVE MORE THAN THAT.
WE ACTUALLY HAVE MORE THAN THAT.
BUT 184 COUNTRIES THAT WE KNOW
BUT 184 COUNTRIES THAT WE KNOW
OF HAVE BEEN AFFECTED BY THIS.
OF HAVE BEEN AFFECTED BY THIS.
SO THE OIL BUSINESS HAS LOST 40%
SO THE OIL BUSINESS HAS LOST 40%
TO 50% OF THEIR MARKET.
TO 50% OF THEIR MARKET.
THAT WAS, YOU KNOW, WHO WOULD
THAT WAS, YOU KNOW, WHO WOULD
HAVE SEEN A THING LIKE THAT
HAVE SEEN A THING LIKE THAT
COMING.
COMING.
AS SOON AS THIS COMES BACK AND
AS SOON AS THIS COMES BACK AND
WITH THE CUTTING, THE ENERGY
WITH THE CUTTING, THE ENERGY
BUSINESS WILL COME BACK AND IT
BUSINESS WILL COME BACK AND IT
WILL COME BACK STRONG.
WILL COME BACK STRONG.
SO WE’RE WORKING.
SO WE’RE WORKING.
THE ENERGY BUSINESS IS VERY
THE ENERGY BUSINESS IS VERY
IMPORTANT TO ME.
IMPORTANT TO ME.
AND WE’RE GOING TO BUILD IT UP.
AND WE’RE GOING TO BUILD IT UP.
THIS REALLY HURT THE ENERGY
THIS REALLY HURT THE ENERGY
BUSINESS AS MUCH AS ANY OTHER
BUSINESS AS MUCH AS ANY OTHER
BUSINESS BECAUSE IT TOTALLY
BUSINESS BECAUSE IT TOTALLY
KNOCKED OUT THE SUPPLY KEPT
KNOCKED OUT THE SUPPLY KEPT
COMING AND BY THE WAY, THERE WAS
COMING AND BY THE WAY, THERE WAS
A LOT OF OIL WHEN THIS HIT.
A LOT OF OIL WHEN THIS HIT.
BEFORE IT HIT.
BEFORE IT HIT.
IT WAS A LOT OF OIL.
IT WAS A LOT OF OIL.
PRICES WERE PRETTY LOW WHICH IS
PRICES WERE PRETTY LOW WHICH IS
A VERY GOOD THING.
A VERY GOOD THING.
BUT THEN WE GOT HIT BY THIS AND
BUT THEN WE GOT HIT BY THIS AND
IT WAS DEVASTATING TO THE ENERGY
IT WAS DEVASTATING TO THE ENERGY
BUSINESS ALL OVER THE WORLD.
BUSINESS ALL OVER THE WORLD.
SO WE WILL BE ABLE TO, ONCE THIS
SO WE WILL BE ABLE TO, ONCE THIS
STRAIGHTENS OUT AND ONCE YOU GET
STRAIGHTENS OUT AND ONCE YOU GET
SOME DEMAND AND THEN YOU ARE
SOME DEMAND AND THEN YOU ARE
GOING TO REDUCE THE SUPPLY A
GOING TO REDUCE THE SUPPLY A
LITTLE BIT, IT WILL EQUALIZE AND
LITTLE BIT, IT WILL EQUALIZE AND
IT’S GOING TO BE GREAT AGAIN.
IT’S GOING TO BE GREAT AGAIN.
WE WILL MAKE THE ENERGY BUSINESS
WE WILL MAKE THE ENERGY BUSINESS
GREAT AGAIN.
GREAT AGAIN.
WE WANT TO REMAIN INDEPENDENT.
WE WANT TO REMAIN INDEPENDENT.
WE ARE INDEPENDENT NOW.
WE ARE INDEPENDENT NOW.
WE ARE TOTALLY INDEPENDENT ON
WE ARE TOTALLY INDEPENDENT ON
ENERGY.
ENERGY.
WE WANT TO KEEP IT THAT WAY.
WE WANT TO KEEP IT THAT WAY.
REPORTER: COULD SECRETARY
REPORTER: COULD SECRETARY
MNUCHIN PERHAPS CLARIFY WHETHER
MNUCHIN PERHAPS CLARIFY WHETHER
THE GOVERNMENT IS CONSIDERING
THE GOVERNMENT IS CONSIDERING
SENDING AID TO ENERGY COMPANIES?
SENDING AID TO ENERGY COMPANIES?
>> THE PRESIDENT HAS ASKED ME TO
>> THE PRESIDENT HAS ASKED ME TO
WORK WITH THE SECRETARY OF
WORK WITH THE SECRETARY OF
ENERGY AND WE ARE LOOKING AT A
ENERGY AND WE ARE LOOKING AT A
WHOLE BUNCH OF ALTERNATIVES.
WHOLE BUNCH OF ALTERNATIVES.
IT WOULD BE PREMATURE FOR ME TO
IT WOULD BE PREMATURE FOR ME TO
COMMENT ON ANY ONE OF THEM.
COMMENT ON ANY ONE OF THEM.
BUT THE PRESIDENT HAS ASKED US
BUT THE PRESIDENT HAS ASKED US
TO LOOK AT THE RANGE OF
TO LOOK AT THE RANGE OF
ALTERNATIVES.
ALTERNATIVES.
REPORTER: IS THAT ONE OF THE
REPORTER: IS THAT ONE OF THE
ALTERNATIVES?
ALTERNATIVES?
>> AGAIN, YOU CAN ASSUME THAT’S
>> AGAIN, YOU CAN ASSUME THAT’S
ONE OF THE ALTERNATIVES BUT
ONE OF THE ALTERNATIVES BUT
THERE’S MANY OF THEM.
THERE’S MANY OF THEM.
>> ONE OF THE ALTERNATIVES WE
>> ONE OF THE ALTERNATIVES WE
CAN THINK ABOUT, STEVE, JUST IN
CAN THINK ABOUT, STEVE, JUST IN
SITTING HERE WATCHING, WE COULD
SITTING HERE WATCHING, WE COULD
BUY, YOU KNOW, THE UNITED STATES
BUY, YOU KNOW, THE UNITED STATES
IS THE LARGEST USER OF OIL.
IS THE LARGEST USER OF OIL.
WE COULD BUY OIL AT A GREAT
WE COULD BUY OIL AT A GREAT
PRICE INTO THE FUTURE.
PRICE INTO THE FUTURE.
THAT GIVES THEM THE INFUSION
THAT GIVES THEM THE INFUSION
THEY NEED AND WE HAVE OIL AT A
THEY NEED AND WE HAVE OIL AT A
GREAT PRICE INTO THE FUTURE SO
GREAT PRICE INTO THE FUTURE SO
THAT’S SOMETHING I WOULD LIKE
THAT’S SOMETHING I WOULD LIKE
YOU TO THINK ABOUT.
YOU TO THINK ABOUT.
>> IT IS AS YOU SUGGESTED.
>> IT IS AS YOU SUGGESTED.
>> LIKEWISE, I TOLD STEVE WE’RE
>> LIKEWISE, I TOLD STEVE WE’RE
THE BIGGEST USER OF THE
THE BIGGEST USER OF THE
AIRLINES, UNITED STATES
AIRLINES, UNITED STATES
GOVERNMENT, AND ONE OF THE WAYS
GOVERNMENT, AND ONE OF THE WAYS
WE CAN HELP THE AIRLINES IS BY
WE CAN HELP THE AIRLINES IS BY
TICKETS AT A VERY LARGE
TICKETS AT A VERY LARGE
DISCOUNT, MAYBE 50% OFF OR MAYBE
DISCOUNT, MAYBE 50% OFF OR MAYBE
MORE, AND YOU BUY INTO FOUR OR
MORE, AND YOU BUY INTO FOUR OR
FIVE YEARS’ WORTH OF TICKETS AND
FIVE YEARS’ WORTH OF TICKETS AND
YOU INFUSE THEM WITH SOME CASH.
YOU INFUSE THEM WITH SOME CASH.
IN THE MEANTIME, WE’RE FLYING
IN THE MEANTIME, WE’RE FLYING
THE PEOPLE OF OUR COUNTRY FOR A
THE PEOPLE OF OUR COUNTRY FOR A
FRACTION OF THE COST THAT IT
FRACTION OF THE COST THAT IT
WOULD BE WHEN THE AIRLINES GET
WOULD BE WHEN THE AIRLINES GET
BACK.
BACK.
THEY WILL GET BACK.
THEY WILL GET BACK.
BUT SO WE’RE THINKING IN TERMS
BUT SO WE’RE THINKING IN TERMS
OF AS ADDITIONAL BECAUSE THE
OF AS ADDITIONAL BECAUSE THE
AIRLINES ARE ALL SET RIGHT NOW.
AIRLINES ARE ALL SET RIGHT NOW.
BUT AS AN ADDITIONAL INCENTIVE
BUT AS AN ADDITIONAL INCENTIVE
WHERE WE BUY TICKETS IN ADVANCE
WHERE WE BUY TICKETS IN ADVANCE
AT A VERY BIG DISCOUNT.
AT A VERY BIG DISCOUNT.
WHICH I LIKED REALLY FROM THE
WHICH I LIKED REALLY FROM THE
BEGINNING.
BEGINNING.
AND WE’RE NOT UP THERE, LOOK,
AND WE’RE NOT UP THERE, LOOK,
THE FACT IS THE AIRLINES, I LIKE
THE FACT IS THE AIRLINES, I LIKE
THAT AS AN ADDITIONAL HELP FOR
THAT AS AN ADDITIONAL HELP FOR
THE AIRLINES.
THE AIRLINES.
I LIKE IT BOTH WAYS.
I LIKE IT BOTH WAYS.
I LIKE IT -- WE ARE THE LARGER
I LIKE IT -- WE ARE THE LARGER
USER OF -- LARGEST USER OF THE
USER OF -- LARGEST USER OF THE
AIRLINES SO YOU BUY TICKETS.
AIRLINES SO YOU BUY TICKETS.
I DON’T KNOW, SOUNDS GOOD,
I DON’T KNOW, SOUNDS GOOD,
RIGHT?
RIGHT?
IF WE GET A GOOD DISCOUNT.
IF WE GET A GOOD DISCOUNT.
>> I APPRECIATE, WYOMING
>> I APPRECIATE, WYOMING
APPRECIATES WHAT YOU’RE DOING
