The oil industry is bracing for Democrats to use their newfound political muscle to push for a deal with President Donal | Hanami
The oil industry is bracing for Democrats to use their newfound political muscle to push for a deal with President Donald Trump and impose a windfall tax on surging crude prices.
Democrats already have proposed legislation to make companies compensate consumers for high fuel prices. Now oil industry executives — and their lobbyists in Washington — are concerned the tax could emerge as part of a broader agreement between Democrats and Trump following an election that hinged on voters’ anger over high prices, according to people familiar with the matter. #oott https://www.bloomberg.com/news/articles/2026-11-04/oil-sector-girds-for-possible-windfall-tax-after-democrats-win?taid=6aebd89e9cd42d000165b0f6&utm_campaign=trueanthem&utm_content=business&utm_medium=social&utm_source=twitter