Oil is trading at its lowest level in nearly four years. Costs are rising. And Wall Street is growing more worried by the day that President Trump’s trade policies will tip the United States into a recession.

The reaction in the oil patch? Silence, mostly.

Oil and gas executives, eager to stay in Mr. Trump’s good graces, have offered little public criticism of the president or the tariffs he has rolled out over the past few months. In private, however, they have decried the uncertainty he has sown, including in a recent anonymized survey by the Federal Reserve Bank of Dallas.
If U.S. oil prices fall much lower than $60 a barrel, around where they were trading on Monday, companies could be forced to slow drilling, slash spending and most likely lay off workers, hurting states like Texas.

Source: The NY Times