“And now we’re back,” Trump told the audience at Double Eagle Energy, “and now we’re just going to keep expanding. … We did a great job.”

Trump cast himself in a leading role in the supposed resurgence — touting the negotiations earlier in the year between OPEC and Russia to cut production and raise prices.

As usual in his presidency when it comes to economic matters, Trump is overly optimistic. The oil and gas industry in the Permian Basin and across the US remains anything but “OK.”

Facts First: Trump’s comments about the health of the US oil sector are highly misleading. The industry remains beset by relatively low prices and weak gasoline demand due to the reduced driving people have done during the coronavirus pandemic. The pain is only just beginning to ripple through the industry in the form of bankruptcies and layoffs. The number of oil and gas

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