Monday the Small Business Administration announced that the Federal Payroll Protection Plan, or PPP for short, was responsible for saving "one half of all Texas oil and gas jobs." A whopping 6,600 different oil producers, oilfield suppliers and service companies asked for, and received PPP from the Federal government totalling over $1,000,000,000.00, with a 'B.' A lot of really big shale oil companies were the first with their hands out, Lewis Energy, for instance, from San Antonio, got $5MM of help. Yeow! https://www.thelayoff.com/lewis-energy-group
A lot of shale oil producers in Texas held their hand out, by the way...then let employees go anyway. A few "pillars" of the industry asked for PPP then filed bankruptcy.
For the record, almost none of this PPP is repayable. It was free! If you have the stomach for it you can read about all this here,
A few hours later the President of the United States announced that he had indeed "saved the Texas oil and gas industry."
In his interview, seen above, Donald J. Trump is heard also to say he "created the oil industry." He is in good company now with Al Gore, who we remember invented the internet.
I may have to still vote for this fella but the idea of it now is getting harder and harder the more he opens his Big Mac/Diet Coke intake.
Anyway, for his comment about creating the oil industry Oily Stuff grants its prestigous 2020, Dumb As a Box of Hammers Award to the... gentleman from New York.
