Sen. Cruz Meets with President to Support Millions of Energy Sector Jobs Amid Coronavirus Crisis
Urges Action to Ensure Energy Producers Have Critical Access to Capital
WASHINGTON, D.C. - U.S. Sen. Ted Cruz (R-Texas) today met with President Donald Trump, members of Congress, and business leaders to advocate for the millions of Texans and Americans whose jobs depend on a vibrant energy sector.
At the meeting, Sen. Cruz said to President Trump:
"The combination of the economic harm of the coronavirus crisis combined with the Saudis and Russians waging economic warfare on jobs in this country has been a perfect storm in the energy sector. [...] There are small producers throughout Texas and throughout the country who are on the verge of being driven out of business."
"Every one of the Senators in this room has had multiple conversations with the Saudis. Leaning in hard on the Saudis. And your leadership and diplomacy with the crown prince had a big impact getting them to stop flooding the market and taking advantage of this crisis."
Discussing the urgent need for energy producers to access capital during this time of crisis, Sen. Cruz added:
"There are jobs that are hanging in the balance. And if the energy producers in this country that have made America the number one producer of oil and gas in the world can't access capital to get out of this crisis, we are going to see bankruptcy at a level this country hasn't seen in decades. So, this meeting and continued leadership of your administration is hugely important."
When President Trump asked about taking steps to fill up our nation's petroleum reserve to protect jobs directly supported by the energy industry, Sen. Cruz blasted Congressional Democrats for blocking a proposal to do just that, noting "there are too many Democrats that want to see jobs go away":
"That strategic petroleum reserve is there in times of crisis. Usually, the way the federal government works is we buy when it's expensive and we sell when it's cheap. We actually have an opportunity now to buy when it's cheap. I think it was inexcusable that Democratic leadership in the House and Senate blocked that in this bill we passed last week. And I think Congress needs to go back and address it. [...] There are too many Democrats that want to see jobs go away."