Oil bosses have warned that America’s energy boom is over, as Trump’s tariffs raise production costs and crude prices fall thanks to an increase in production from Saudi Arabia.
The shale revolution of the last few years delivered huge volumes of cheap oil and gas that powered the US economy and broke dependence on foreign imports from places such as Iran, Russia and Venezuela.
Production hit record highs under President Joe Biden, but is now falling under Trump.
The situation presents a direct contradiction to the President’s pledges to ‘drill baby drill’ and assert America’s ‘energy dominance.’
…
‘Saudi is trying to regain market share and they’ll probably get it over the next five years,’ Sheffield explained.
Tag Archives: Saudi Arabia
New York Times: As Trumps Monetize Presidency, Profits Outstrip Protests
The president and his family have monetized the White House more than any other occupant, normalizing activities that once would have provoked heavy blowback and official investigations.
When Hillary Clinton was first lady, a furor erupted over reports that she had once made $100,000 from a $1,000 investment in cattle futures. Even though it had happened a dozen years before her husband became president, it became a scandal that lasted weeks and forced the White House to initiate a review.
Thirty-one years later, after dinner at Mar-a-Lago, Jeff Bezos agreed to finance a promotional film about Melania Trump that will reportedly put $28 million directly in her pocket — 280 times the Clinton lucre and in this case from a person with a vested interest in policies set by her husband’s government. Scandal? Furor? Washington moved on while barely taking notice.
The Trumps are hardly the first presidential family to profit from their time in power, but they have done more to monetize the presidency than anyone who has ever occupied the White House. The scale and the scope of the presidential mercantilism has been breathtaking. The Trump family and its business partners have collected $320 million in fees from a new cryptocurrency, brokered overseas real estate deals worth billions of dollars and are opening an exclusive club in Washington called the Executive Branch charging $500,000 apiece to join, all in the past few months alone.
Just last week, Qatar handed over a luxury jet meant for Mr. Trump’s use not just in his official capacity but also for his presidential library after he leaves office. Experts have valued the plane, formally donated to the Air Force, at $200 million, more than all of the foreign gifts bestowed on all previous American presidents combined.
And Mr. Trump hosted an exclusive dinner at his Virginia club for 220 investors in the $TRUMP cryptocurrency that he started days before taking office in January. Access was openly sold based on how much money they chipped in — not to a campaign account but to a business that benefits Mr. Trump personally.
https://www.nytimes.com/2025/05/25/us/politics/trump-money-plane-crypto.html
Axios: Qatari jet “gives the appearance of a conflict of interest” for Trump, senator says
Sen. Rand Paul (R-Ky.) said in a Sunday interview that the pending transfer of a Qatari luxury jet “detracts from” what he saw as President Trump‘s “largely successful” Middle East trip and “gives the appearance of a conflict of interest.”
Why it matters: Paul, who has already cautioned against the possible gift to Trump, is one of a group of Republicans who have raised legal, ethical and national security concerns over the prospect of the administration accepting a jet worth roughly $400 million to potentially serve as Air Force One.
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Paul said on ABC’s “This Week” that there is “probably a perfectly legal way” the plane could be accepted, but added that he thinks the discussion has “raised more questions than I think it’s worth.”
- Paul, who said he has in the past pushed to block arms sales to Qatar and Saudi Arabia over alleged human rights abuses, contended, “Could it color the perception of the administration if they have a $400 million plane to be more in favor of these things? Perhaps.”
- Paul continued, “It at least gives the appearance of a conflict of interest. I don’t think it’s worth the headache.”

https://www.axios.com/2025/05/18/trump-qatari-jet-conflict-of-interest-rand-paul
Miami Herald: Pam Bondi Under Fire Over Qatar Jet: ‘Wrong Signal’
Attorney General Pam Bondi’s alleged connection to Qatar has drawn criticism as the Qatari government plans to gift President Donald Trump a luxury Boeing 747-8 for temporary use as Air Force One. Bondi previously lobbied Congress for Qatar, earning $115,000 a month in 2020. The situation has since fueled legal and ethical concerns regarding foreign gifts to U.S. officials.
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Democratic pollster Matt McDermott said, “The DOJ memo approving Trump’s Qatari jet? Written by Pam Bondi. Her last job? Lobbying for Qatar.”
https://www.msn.com/en-us/news/politics/pam-bondi-under-fire-over-qatar-jet-wrong-signal/ss-AA1F5kGq
NBC News: Mike Pence criticizes Trump on tariffs and key foreign policy issues as he watches from afar
In a “Meet the Press” interview, Trump’s former vice president was careful to balance praise of Trump with specific disapproval in certain areas.
On tariffs:
Former Vice President Mike Pence criticized President Donald Trump’s approach to tariffs, as well as several foreign policy initiatives, in an interview with NBC News’ “Meet the Press” airing Sunday.
“The initial reciprocal tariffs that he unveiled would be the largest peacetime tax hike on the American people in the history of this country,” Pence told moderator Kristen Welker, referring to the sweeping tariffs Trump imposed on the United States’ largest trading partners in early April.
Days later, the president paused most of the tariffs, a move that Pence on Friday said he was “glad” to see.
On the 747-800 from Qatar:
Pence also spoke about Trump’s approach to foreign policy in this term. He told Welker it’s “a bad idea” for the president to accept a plane as a gift from the Qatari royal family, amid reports that Trump plans to do so, and was critical of Trump’s speech in Saudi Arabia.
The former vice president also questioned the Trump administration’s approach to Iran, as top U.S. officials seek to reach a deal with Iran over the nation’s possession of uranium and nuclear technology.
Pence said he is worried about reports that Iran is seeking to maintain a civilian nuclear program, telling Welker the U.S. “should make it clear in negotiations with Iran that their current nuclear program must be either dismantled or destroyed.”
On Jan. 6:
Pence said Trump was wrong to issue a blanket pardon of people who faced charges for participating in the Jan. 6 Capitol riot.
“I will always believe by God’s grace I did my duty that day to support and defend the Constitution of the United States and see to the peaceful transfer of power,” Pence said, later drawing a distinction between some Jan. 6 defendants who “just walked through an open door, meant no harm, did no harm,” and those charged with more serious crimes.
“But individuals who broke into the Capitol, who assaulted police officers, I said that day and I believe to this moment should have been prosecuted to the fullest extent of the law,” Pence said.
Telegraph: ‘It’s open season for corruption’: How Trump turned the White House into a cash cow
Naked profiteering by the US president and his family has triggered alarm bells in the Maga movement
Most.
Corrupt.
President
Ever!
Donald Trump caught his first sight of the so-called “palace in the sky” in February as he climbed the red-carpeted steps of the Boeing 747-8.
The Qatari plane was parked at Florida’s West Palm Beach International Airport, and offered a chance for the president to see what a newly refitted Air Force One could look like, easing his frustration with the long-delayed Boeing project.
In the event, it appears to have been more of a test drive. His administration’s plan to accept the $400m (£300m) luxury jet from the Qatari royal family, which he is expected to use after his presidency, is the latest example of what many view as an increased disregard for ethics in Washington under his second term.
During his first term in the White House, foreign governments buying meals and block-booking rooms at Trump hotels set alarm bells ringing.
Yet now the president has created even more opportunities for those looking to curry favour with him – and his children. From pay-to-dine cryptocurrency schemes, a new social media platform that carries advertising and the expansion of their property empire, it has never seemed easier for the Trump family to line their pockets.
https://www.telegraph.co.uk/business/2025/05/18/trump-turned-white-house-cash-machine
Bloomberg: Iran’s Khamenei Brands Trump a Liar in Escalation of Rhetoric
“Some of the remarks made during the US president’s trip to the region aren’t even worth responding to,” Khamenei said. “The level of the statements is so low that they are a source of shame for the speaker and a source of shame for the American people.”
Even the world’s worst ogre gets one right every now & then!
Defense News: What’s wrong with Trump accepting a 747 from Qatar? Everything
As secretary of the Air Force, I was frustrated by Boeing’s failure to deliver the new Air Force One aircraft on time.
I can understand that President Trump would like a new aircraft, painted as he desires and available for use during his term in office. I cannot understand his willingness to accept the “gift” of a luxuriously appointed, used Boeing 747 from Qatar.
It is wrong to accept this gift from any perspective.
Read the rest of the article for a lengthy discussion of “any perspective”.
Daily Mail: Donald Trump complains Air Force One ‘much smaller and less impressive’ than Middle East planes
‘The plane that you are on right now is almost 40 years old,’ Trump remarked, referring to Air Force One and noting that the Boeing planes purchased by Saudi Arabia, the United Arab Emirates, and Qatar were ‘brand new 747s.’
‘You see ours next to it. This is like a totally different plane. It’s much smaller and less impressive, as impressive as it is,’ Trump said. ‘We are the United States of America I believe we should have the most impressive plane.’
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The 747-8 offered by the Qataris is considered more fuel efficient and quiet but it is most notable for it’s luxurious interior, designed by famed French design firm Alberto Pinto Cabinet.
King Donald appears to be suffering an acute case of Boeing envy.
Only the best for His Majesty, the Emir of Washington!
Mediaite: Trump Confronted on Air Force One by NY Times Over $2 Billion Crypto Deal
President Donald Trump was confronted aboard Air Force One by New York Times White House reporter Jonathan Swan over a $2 billion foreign deal that’s being paid for with Trump crypto.
Trump is currently on a four-day swing through the Persian Gulf region with stops in Saudi Arabia, Qatar, and the United Arab Emirates, which has been dogged by the controversy over his eager acceptance of a $400 million “flying palace” from Qatar to serve as Air Force One.
The trip has also drawn attention to Trump’s family businesses, including the cryptocurrency firm World Liberty Financial.
That company’s USD1 currency was selected by state-owned UAE firm MGX to pay for a $2 billion investment in Binance earlier this month. The deal was announced by WLF co-founder Zach Witkoff, son of Trump Middle East Envoy Steve Witkoff.
Trump plays dumb:
JONATHAN SWAN: An Emirati government-backed firm did a $2 billion deal using the Trump digital coins. How did that deal come about?
PRESIDENT DONALD TRUMP: I don’t know anything about it. I really don’t know anything about it. But I’m a big crypto fan, I will tell you. I’ve been that from the beginning, right from the campaign. I’m a believer in crypto.
