Transcript - Remarks: Donald Trump Meets With Energy Executives on the Coronavirus Pandemic - April 3, 2020 | Factba.se

Donald Trump

00:00:00 - 00:00:15 (16 sec)

Okay, thank you very much. It's a great honor to be with the world leaders in American oil and gas and, really, I could say, the world leaders, period, when it comes to energy and American energy. The biggest companies anywhere -- anywhere in the world.

Donald Trump

00:00:15 - 00:00:24 (9 sec)

I want to thank Secretary of the Interior, David Bernhardt; Secretary of Energy, Dan Brouillette; and Ambassador Robert Lighthizer for being here.

Donald Trump

00:00:24 - 00:00:38 (13 sec)

We're also joined by Leader Kevin McCarthy, Senators John Cornyn, Kevin Cramer, Ted Cruz, and Dan Sullivan. Thank you. These are people that really want to see good energy at the good price.

Donald Trump

00:00:38 - 00:01:13 (36 sec)

With us as well are Greg Garland of Phillips 66, Dave Hager of Devon Energy, Harold Hamm of Continental Resources, Jeff Hildebrand of Hilcorp Energy, Vicki Hollub of Occidental Petroleum, Mike Sommers of the American Petroleum Institute, Kelcy Warren of Energy Transfer Partners, Mike Wirth of Chevron, and Darren Woods of an extremely small company known as Exxon Mobil. Well, it's smaller today than it was four weeks ago -- [laughter] -- by about half, right? That's all right. It'll be better than ever.

Donald Trump

00:01:13 - 00:01:47 (34 sec)

Today we'll discuss the impact of the coronavirus on American energy industry. As the pandemic brought on by global economy -- I mean, it's an incredible thing that's happened. Nobody thought this was possible. We had the greatest economy in the world. Probably, you were doing -- all of you -- the best ever. Everybody was doing the best ever. And then, all of a sudden, they said, "You have to shut down the country," and they have to shut down the world, because the whole world is shut down, not the country. The whole world is shut down: 151 countries. Probably, it's higher than that now. That was as of a week ago.

Donald Trump

00:01:47 - 00:01:54 (7 sec)

So the entire world is shut down, trying to get rid of this scourge. And -- and we'll do it.

Donald Trump

00:01:54 - 00:02:19 (25 sec)

I thought what I might do is go around the room and you just introduce yourselves to the media real quickly, and then we'll have a discussion afterwards. You know, our 2.2-trillion-dollar relief package includes provisions to allow businesses to deduct their losses this year against taxes they paid in previous years, which gets you a lot of liquidity. And a lot of companies need the liquidity right now.

Donald Trump

00:02:19 - 00:02:30 (11 sec)

And hopefully we're going to be back in business very soon. We're going to be open very soon. This country wasn't built to be closed. And, essentially, we have a closed country. Nobody has ever heard of a thing like this.

Donald Trump

00:02:30 - 00:02:56 (26 sec)

But this was -- I was with some of the leading professionals, and they say not since 1917 has there been anything like this. 1917 was a time when, I guess, you could say, 50, 75, or 100 million -- you hear different estimates -- people died. Think of that: 100 million. Maybe 100 million people died. So they had no communications. They weren't able to shut things down like we are doing.

Donald Trump

00:02:56 - 00:03:07 (11 sec)

But that was a -- that was a plague. That was a plague. It started here, actually. It went to Europe. We were badly affected, but Europe was really affected. So that was the worst.

Donald Trump

00:03:07 - 00:03:13 (6 sec)

So not since 100 years ago -- more than 100 years ago has this -- a thing like this happened.

Donald Trump

00:03:13 - 00:03:41 (28 sec)

I just want to start by saying it's an honor to be with you. I know most of you, one way or the other. Some of you I know, and -- but I know all of you by seeing you on the covers of all the business magazines and the magazines. And you've done a great job, and we'll work this out and we'll get our energy business back. I'm with you 1,000 percent. It's a great business. It's a very vital business. And, honestly, you've been very fair. You've kept energy prices reasonable for a long period of time. We've got a long period of time with very reasonable energy prices.

Donald Trump

00:03:41 - 00:03:46 (5 sec)

So I want to thank you all for being here. And maybe we'll start with Mike. Please.

Mike Wirth

00:03:46 - 00:03:56 (10 sec)

All right. Mike Wirth with Chevron Corporation, Mr. President. I'm proud of the work our people are doing to support healthcare providers, first responders, and all the other vital industries that keep our economy going.

Mike Wirth

00:03:56 - 00:03:58 (2 sec)

Thank you for having us.

Donald Trump

00:03:58 - 00:04:00 (3 sec)

Thank you, Mike, very much. Appreciate it.

Vicki Hollub

00:04:00 - 00:04:02 (2 sec)

Vicki Hollub of Occidental Petroleum.

Donald Trump

00:04:02 - 00:04:02 (0 sec)

Vicki Hollub

00:04:02 - 00:04:04 (2 sec)

Thank you for allowing us to be here today and thank you for all you're doing for us.

Donald Trump

00:04:04 - 00:04:08 (4 sec)

Thank you very much. Thank you, Vicki.

Dave Hager

00:04:08 - 00:04:23 (15 sec)

Dave Hager, with Devon Energy. We're an independent oil and gas company out of Oklahoma City. And thank you so much for the leadership that you're providing during this challenging time. And we -- you're the right man at the right time to balance all the priorities. And we're going to be back. Thank you very much.

Donald Trump

00:04:23 - 00:04:26 (3 sec)

We'll get it done, Dave. Thank you very much.

Greg Garland

00:04:26 - 00:04:40 (14 sec)

Mr. President, I'm Greg Garland, Phillips 66. Again, thank you for your great leadership through this pandemic crisis and all that you've done on the stimulus package, really, for the American economy. I'm proud of our employees. They're working to provide energy and improve lives.

Donald Trump

00:04:40 - 00:04:47 (7 sec)

We think it's going to come back quickly. It's -- it's ready. We're ready. And we've got the right packages out there. So --

Greg Garland

00:04:47 - 00:04:48 (0 sec)

We need it, too.

Donald Trump

00:04:48 - 00:04:56 (9 sec)

Very good. We're looking at a -- I think we're going to be really looking very seriously at a infrastructure package where -- it's so important for our country.

Donald Trump

00:04:56 - 00:05:16 (20 sec)

You know, as of this moment, Darren, we have $7 trillion-plus in the Middle East. For what? For what reason? And we don't put money in our own country. So we're going to do a big -- a big package on infrastructure fairly soon, I think, and that's very important. And it's great for you, great for everybody.

Donald Trump

00:05:16 - 00:05:17 (1 sec)

Darren, please.

Darren Woods

00:05:17 - 00:05:32 (15 sec)

Thank you, Mr. President. Darren Woods, Exxon Mobil Corporation. I'd like to add my thanks for your leadership in this space, as well, and say I think all of our companies here align with your objective, which is to get the economy moving and to make people's lives around the world better.

Donald Trump

00:05:32 - 00:05:36 (4 sec)

Good. Great job you've done. Thank you.

Harold Hamm

00:05:36 - 00:06:05 (29 sec)

Harold Hamm, chairman of Continental Resources, also out of Oklahoma City. Thanks for having this meeting. I think this is so timely and necessary. Really appreciate your leadership, also the friendship that you've kept with the Saudis -- the Saudi Crown minister -- or Crown Prince, and also Vladimir Putin. I know those haven't been easy sometimes, but at this time, it was particularly needed.

Harold Hamm

00:06:05 - 00:06:19 (14 sec)

So I represent our company, as well as DEPA -- Domestic Energy Producers Alliance. And we're about 10,000 companies and individuals -- mostly independent producers.

Donald Trump

00:06:19 - 00:06:22 (3 sec)

That's great. Great job you're doing.

Donald Trump

00:06:22 - 00:06:36 (14 sec)

I think President Putin and the Crown Prince want something to happen badly. Certainly terrible for them, what's happening, too. So they want to see something happen. I've spoken to both of them and we'll tell you about that in a little while. Okay?

Donald Trump

00:06:36 - 00:06:37 (1 sec)

Thank you very much.

Jeff Hildebrand

00:06:37 - 00:06:52 (15 sec)

Thank you, Mr. President. Jeff Hildebrand, founder and chairman, Hilcorp Energy. Our distinction is we are the only private company here. This is a company that's based in Houston, domestic-only exploration and production company.

Jeff Hildebrand

00:06:52 - 00:07:04 (12 sec)

And I'm really here today to represent the independent energy companies, the family-owned businesses that are in this industry, and to give you, really, that perspective and add to the conversation in that regard.

Donald Trump

00:07:04 - 00:07:05 (1 sec)

Good. That's great.

Jeff Hildebrand

00:07:05 - 00:07:07 (2 sec)

So thank you for your leadership.

Donald Trump

00:07:07 - 00:07:08 (1 sec)

Jeff Hildebrand

00:07:08 - 00:07:09 (1 sec)

Donald Trump

00:07:09 - 00:07:10 (1 sec)

Great job. Thank you.

Jeff Hildebrand

00:07:10 - 00:07:11 (1 sec)

Kelcy Warren

00:07:11 - 00:07:29 (18 sec)

Thank you, Mr. President. Kelcy Warren, Energy Transfer. We're the only pipeline company. And so we try to do business with everybody in this room, and I think we successfully do, actually. So it's an honor to be here, sir, and it's an honor to be in this room with these folks as well.

Donald Trump

00:07:29 - 00:07:35 (6 sec)

And everyone loves that guy, right? We all do. Thank you very much, Kelcy. Great. Great job you're doing, too.

Donald Trump

00:07:35 - 00:07:45 (11 sec)

He's not an oil and gas man. He's a wonderful person and a wonderful politician and he wants to see the industry get strong again. So, Kevin, do you have anything to say, by the way?

Kevin McCarthy

00:07:45 - 00:08:08 (23 sec)

Well, first, I want to thank you for doing this. Just by you reaching out to President Putin and the Crown Prince, things have improved. You're looking around at a lot of jobs, but what else you're not seeing at this table: A lot of these are small businesses that work with all these individuals around here. And your action today, with signing the CARES Act, getting the small-business loans out, is going very strongly --

Donald Trump

00:08:08 - 00:08:08 (0 sec)

Kevin McCarthy

00:08:08 - 00:08:10 (1 sec)

-- because it's needed.

Donald Trump

00:08:10 - 00:08:10 (1 sec)

It's doing well.

Kevin McCarthy

00:08:10 - 00:08:24 (14 sec)

But the American economy -- the greatest strength is our -- what energy provides us. You provide us at a good price. These are great jobs. But more importantly, it also gives us energy independence. It changes the whole dynamics around the world.

Kevin McCarthy

00:08:24 - 00:08:26 (2 sec)

And so I thank you for the leadership and what you're doing.

Donald Trump

00:08:26 - 00:08:36 (10 sec)

Thank you, Kevin. And as you just said, the Bank of America, in particular, has really -- of the big banks -- has really stepped into it. They have done a fantastic job. Today, it's over --

Kevin McCarthy

00:08:36 - 00:08:38 (2 sec)

Ten thousand in the first two hours.

Donald Trump

00:08:38 - 00:08:53 (16 sec)

Yeah. Bank of America has been unbelievable. And I want to thank them. I want to thank all of the community banks and the smaller banks that have been loaning a lot of money -- paycheck. It's all about the paycheck. And that -- nobody would have believed it could have gone so well.

Donald Trump

00:08:53 - 00:09:00 (6 sec)

So it's -- it's just a number of hours. But the numbers are far greater than we would have anticipated. So it's been really great.

Donald Trump

00:09:00 - 00:09:11 (12 sec)

And thank you to all the banks, but again, in particular, Bank of America. They really stepped right up and they did it. There were no big deals. They weren't making a big deal out of anything. So that was terrific.

Donald Trump

00:09:11 - 00:09:22 (11 sec)

And I think what we want to do -- John Cornyn, please. I know how you are so involved in this, coming from the great state of Texas. Would you like to say a couple of words, John?

John Cornyn

00:09:22 - 00:09:49 (28 sec)

Thank you, Mr. President. Thank you for convening the meeting. Many of us have been talking together, but we can't get done what needs to be done. Only you and the administration can. And particularly, getting the attention of the Saudis and flooding the markets, really adding insult to injury in a time when on our economy was suffering anyway because of the coronavirus. And so this meeting could not be more timely.

John Cornyn

00:09:49 - 00:10:03 (14 sec)

I agree with what's been said about the importance of affordable energy to our standard of living. And, really, we've changed the -- changed the world as a result of the production of domestic energy here, and improved the quality of life for a lot of people.

Donald Trump

00:10:03 - 00:10:22 (19 sec)

Thanks very much, John. Really good job. And John agrees -- we were talking about it the other day -- that you've all done well, but you've also kept energy very affordable, really. Very, very affordable and very -- a lot of it. We never had any problems. And we're going to keep it that way.

Donald Trump

00:10:22 - 00:10:23 (1 sec)

Do I see Dan back there? Dan?

Dan Sullivan

00:10:23 - 00:10:25 (2 sec)

Yes, sir, Mr. President. [Laughter]

Donald Trump

00:10:25 - 00:10:28 (3 sec)

I was looking -- I thought that looked like Dan.

Dan Sullivan

00:10:28 - 00:10:56 (28 sec)

I want to thank you for convening this meeting. You know, under the Trump administration, working with the Congress, the U.S. has become the world's energy superpower again. It's unbelievable. And these companies have done it. Obviously it's a very important issue in my state, the great state of Alaska. But these are great jobs, as John Cornyn just said, for all of our states. But it's really important for the national security of our country too.

Dan Sullivan

00:10:56 - 00:11:16 (20 sec)

And we have been -- a number of senators have been reaching out, having frank discussions with the Saudis, saying, "Hey, if you're a longstanding ally of ours, we're not -- right now, you're hurting a lot of our citizens. You're hurting a lot of the people we represent and shouldn't take us for granted."

Dan Sullivan

00:11:16 - 00:11:30 (14 sec)

We have a great military that's protected Saudi Arabia for decades. And Senator Cramer and I have some legislation that could possibly change that if they don't start cooperating.

Dan Sullivan

00:11:30 - 00:11:36 (6 sec)

So again, we appreciate your leadership with the Crown Prince, with the Russians, in calling this meeting.

Dan Sullivan

00:11:36 - 00:11:53 (17 sec)

But this is a great sector of the U.S. economy that, once we get through this, and we will -- of this pandemic, this --this sector is going to take off again. And your -- your administration and you have had a lot to do with the strength of the U.S. energy sector. And we need to keep it strong.

Donald Trump

00:11:53 - 00:11:54 (2 sec)

Thank you very much, Dan.

Donald Trump

00:11:54 - 00:12:00 (6 sec)

And Kevin Cramer, North Dakota. People don't realize how big a producer North Dakota is. Right?

Kevin Cramer

00:12:00 - 00:12:01 (1 sec)

Well, Harold knows. [Laughter]

John Cornyn

00:12:01 - 00:12:02 (1 sec)

Kevin Cramer

00:12:02 - 00:12:05 (2 sec)

It sort of allows the others [inaudible].

Donald Trump

00:12:05 - 00:12:06 (2 sec)

Harold -- Harold knows, that's for sure.

Kevin Cramer

00:12:06 - 00:12:26 (19 sec)

Mr. President, to echo everything and maybe add a little bit: The people around your Cabinet table right now are part of the renaissance of oil and gas in this country. But since you became President, we went from a renaissance to security, to independence, to dominance. And that dominance and that security are -- right now are in some danger.

Kevin Cramer

00:12:26 - 00:12:38 (12 sec)

Just a quick example: In North Dakota, since Saudi Arabia and Russia announced their little price war, we've had $6 billion of cutbacks taken out of our state, planned for this year.

Donald Trump

00:12:38 - 00:12:39 (1 sec)

Kevin Cramer

00:12:39 - 00:12:51 (12 sec)

I was economic development director when the entire gross domestic product of North Dakota was $13 billion. So that's significant. That represents not just capex; that represents lots of jobs, lots of people in the value chain.

Kevin Cramer

00:12:51 - 00:13:14 (23 sec)

And I would just add one word to what Dan talked about with regard to Saudi Arabia. It is estimated by one report in 2018 that we spent a minimum of $81 billion defending global oil supplies. We can use that money in national defense and other hotspots in the world, if our friends are going to treat us this way.

Kevin Cramer

00:13:14 - 00:13:20 (6 sec)

So I appreciate your outreach this week. I think we're halfway there just with the success of your diplomacy this week. Thank you for this meeting.

Donald Trump

00:13:20 - 00:13:29 (9 sec)

Well, it's gone up. It's gone up. And we have to. Otherwise, we do -- we lose a lot of jobs too. We're talking about one of the big job producers anywhere, Kevin, right?

Donald Trump

00:13:29 - 00:13:30 (2 sec)

Would you have anything to say?

Mike Sommers

00:13:30 - 00:13:46 (15 sec)

Mr. President, thank you. I'm Mike Sommers. I'm President and CEO of the American Petroleum Institute. The folks around this table represent the American energy revolution, and we want to thank you for everything that you've done to support that revolution. And we want to make sure that revolution continues --

Donald Trump

00:13:46 - 00:13:46 (0 sec)

Mike Sommers

00:13:46 - 00:13:48 (2 sec)

-- after this pandemic crisis is solved.

Donald Trump

00:13:48 - 00:13:49 (1 sec)

Thank you, Mike.

Mike Sommers

00:13:49 - 00:13:49 (1 sec)

Thank you, sir.

Donald Trump

00:13:49 - 00:13:51 (2 sec)

Thank you. Very good.

Kevin McCarthy

00:13:51 - 00:13:53 (2 sec)

I think Senator Cruz was somewhere --

Donald Trump

00:13:53 - 00:13:56 (2 sec)

I think he's around here.

Kevin McCarthy

00:13:56 - 00:13:59 (4 sec)

Right back there. Ted can't be seen.

Donald Trump

00:13:59 - 00:14:02 (3 sec)

Where -- where is Senator Cruz?

Participant

00:14:02 - 00:14:04 (2 sec)

He's hiding behind the press. [Laughter]

Donald Trump

00:14:04 - 00:14:05 (1 sec)

I can't believe it. He's gone -- he's gone over to the evil side. [Laughter] That's terrible.

Donald Trump

00:14:05 - 00:14:07 (1 sec)

Cruz, what are you doing there?

Ted Cruz

00:14:07 - 00:14:15 (8 sec)

Mr. President, thank you for convening this meeting. This is an important meeting and this is the time, as you know, of crisis all across the country -- a public health crisis and an economic crisis.

Ted Cruz

00:14:15 - 00:14:39 (24 sec)

As you've heard, and as you know, from everyone around this table, the energy sector has been a huge part of the economic success and boom that we've enjoyed over the last several years. And the combination of the economic harm of the coronavirus crisis, combined with the Saudis and Russians waging economic warfare on jobs in this country, it's been a perfect storm in the energy sector.

Ted Cruz

00:14:39 - 00:14:57 (18 sec)

And I'll tell you, there are a lot of jobs -- there are millions of jobs in Texas and across the country that are represented by the men and women around this table and by energy producers. And there are small producers throughout Texas and throughout the country who are -- who are on the verge of being driven out of business.

Ted Cruz

00:14:57 - 00:15:15 (18 sec)

And so this -- this meeting, I think, is important. 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.

Ted Cruz

00:15:15 - 00:15:45 (29 sec)

And I would underscore one other issue that a number of the folks around this table have raised and I'm very concerned about: is ensuring that those in energy in this time of crisis have access to capital. That -- 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're going to see bankruptcies at a level this country hasn't seen in decades.

Ted Cruz

00:15:45 - 00:15:50 (5 sec)

And so this meeting and the continued leadership of your administration is hugely important. Thank you.

Donald Trump

00:15:50 - 00:16:03 (14 sec)

Good. Thank you very much, Ted. And while you're up, the concept, and, for instance -- I think we should say it in front of the media -- but oil reserves, storing oil. We're filling up the national reserves, as you know. We're getting the oil at a great price.

Donald Trump

00:16:03 - 00:16:19 (16 sec)

But at these prices -- in fact, Kevin and I have been speaking about it; John and I have been speaking about it -- at these prices, you would think you'd want to fill up every cavity that we have in this country. And there's some areas in Louisiana and other areas that could be filled up; they hold a lot of oil.

Donald Trump

00:16:19 - 00:16:28 (9 sec)

But at these prices -- and it would be good and it would keep everybody working -- but you would think you'd want to fill up those areas. What do you think of that, Ted?

Ted Cruz

00:16:28 - 00:16:36 (8 sec)

Look, I think that's exactly right. I think it makes sense in terms of easing the pressure that is threatening these jobs. But it also makes sense for the taxpayer.

Donald Trump

00:16:36 - 00:16:36 (0 sec)

Ted Cruz

00:16:36 - 00:16:46 (9 sec)

That Strategic Petroleum Reserve is there in times of crisis. And usually the way the federal government works is we buy when it's expensive, and we sell when it's cheap.

Donald Trump

00:16:46 - 00:16:47 (2 sec)

Yeah. No, it's --

Ted Cruz

00:16:47 - 00:17:03 (15 sec)

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 then I think Congress needs to go back and address it.

Kevin McCarthy

00:17:03 - 00:17:04 (1 sec)

It was in the bill.

Ted Cruz

00:17:04 - 00:17:04 (0 sec)

Kevin McCarthy

00:17:04 - 00:17:09 (5 sec)

And then the Speaker came in and that's the one thing -- when she held this bill up for the number of days -- that she removed.

Donald Trump

00:17:09 - 00:17:11 (2 sec)

Twenty-dollar oil. Think of it.

Kevin McCarthy

00:17:11 - 00:17:11 (0 sec)

Donald Trump

00:17:11 - 00:17:12 (1 sec)

Twenty dollars.

Ted Cruz

00:17:12 - 00:17:14 (2 sec)

Well, and there are too many Democrats --

Donald Trump

00:17:14 - 00:17:14 (0 sec)

Ted Cruz

00:17:14 - 00:17:15 (1 sec)

-- that want to see these --

Donald Trump

00:17:15 - 00:17:15 (1 sec)

It's all right.

Ted Cruz

00:17:15 - 00:17:16 (0 sec)

-- jobs go away.

Donald Trump

00:17:16 - 00:17:23 (7 sec)

I think you should go back though, Kevin. I think you should go back and see, John, if you guys can go back and do a separate bill.

Donald Trump

00:17:23 - 00:17:35 (12 sec)

And beyond that, you know, I think it's 75 million barrels right now to fill it up. That's not that much. So it's fairly in pretty good shape. But we have other areas that are bigger, frankly, that we can fill up too.

Donald Trump

00:17:35 - 00:17:46 (11 sec)

But at those prices, we should be -- we should be pumping it out. So maybe you guys can check on it and see what you can do about it. I don't think anyone can reject it. Nobody can reject it. Ted, you'll work on that?

Ted Cruz

00:17:46 - 00:17:47 (2 sec)

Donald Trump

00:17:47 - 00:17:51 (4 sec)

Anybody else? David, you guys okay? David, you want to say something?

David Bernhardt

00:17:51 - 00:18:17 (26 sec)

So just one thing, Mr. President. The Department of the Interior manages a large portion of land and part of the offshore. And one of the things we have done over the last 15 days as you had the "slow the spread," we have really had our inspectors out on the frontlines working to make sure that the production that's taking place is occurring in a safe and a responsible manner, and I thank everybody for their cooperation in that.

David Bernhardt

00:18:17 - 00:18:25 (8 sec)

These jobs are so important to the American people, and it's important that we make sure that we dot our I's and cross our T's too.

Donald Trump

00:18:25 - 00:18:34 (9 sec)

He's the biggest landlord in the country. [Laughter] Meaning, it's called Interior. Interior is a lot of land, when you look at it. Thank you. Great job you're doing.

Donald Trump

00:18:34 - 00:18:36 (2 sec)

So, Dan, go ahead.

Dan Brouillette

00:18:36 - 00:18:39 (4 sec)

Mr. President, thank you. Thank you, sir, for your leadership.

Donald Trump

00:18:39 - 00:18:40 (1 sec)

Thank you, Dan.

Dan Brouillette

00:18:40 - 00:18:55 (15 sec)

My name is Dan Brouillette. I serve the President as the Secretary of Energy. With regard to the storage, Mr. President, I'm happy to announce we went to market this week for 30 million barrels. Notwithstanding the -- the desire of the Congress not to give us new money to pursue this idea, we have found an alternative financing mechanism --

Donald Trump

00:18:55 - 00:18:56 (1 sec)

Dan Brouillette

00:18:56 - 00:18:58 (2 sec)

-- so that we can immediately find --

Donald Trump

00:18:58 - 00:19:00 (2 sec)

I figured you would. [Laughter] I actually wasn't worried about it. [Laughter]

Dan Brouillette

00:19:00 - 00:19:02 (2 sec)

-- so that can we can find --

Donald Trump

00:19:02 - 00:19:03 (2 sec)

What are you paying per barrel?

Dan Brouillette

00:19:03 - 00:19:04 (1 sec)

I'm sorry, sir?

Donald Trump

00:19:04 - 00:19:05 (1 sec)

What are you paying? [Laughs] He didn't want to answer.

Dan Brouillette

00:19:05 - 00:19:06 (1 sec)

It's going to be a little a low. [Laughter]

Donald Trump

00:19:06 - 00:19:11 (5 sec)

What are you paying per barrel? A flexible price or would it –

Dan Brouillette

00:19:11 - 00:19:13 (3 sec)

They may be paying us. This could be a little low.

Donald Trump

00:19:13 - 00:19:17 (4 sec)

So we're going to go negative, like interests rates. Negative.

Dan Brouillette

00:19:17 - 00:19:36 (19 sec)

But, Mr. President, I just wanted you to know -- and for the industry players who are here: We are moving very aggressively. We're using every tool that we have at the U.S. Department of Energy, not only to provide immediate relief for this particular industry and the economy itself, but also to look for technologies that over time will reduce the cost structure for the entire industry.

Dan Brouillette

00:19:36 - 00:19:40 (4 sec)

So we're moving as aggressively as we can, sir. Thank you for your leadership.

Donald Trump

00:19:40 - 00:19:43 (3 sec)

Dan, check out other areas where you can store oil.

Dan Brouillette

00:19:43 - 00:19:44 (1 sec)

Donald Trump

00:19:44 - 00:19:49 (5 sec)

And there are some very big ones, bigger than what we have now. And at these prices, you should do it.

Dan Brouillette

00:19:49 - 00:19:50 (1 sec)

Donald Trump

00:19:50 - 00:19:52 (2 sec)

Refill it up, right?

Dan Brouillette

00:19:52 - 00:19:52 (0 sec)

Donald Trump

00:19:52 - 00:19:54 (2 sec)

Fill up the tank.

Donald Trump

00:19:54 - 00:20:10 (16 sec)

Okay, Bob Lighthizer, you've been so great. And this isn't your meeting really, but Bob has done some of the best trade deals ever done in our country. And one of them has kicked -- it actually kicked in on April 1st, and that's with China. And I hope they're buying a lot. I hope.

Robert Lighthizer

00:20:10 - 00:20:12 (1 sec)

I don't [inaudible] say anything.

Donald Trump

00:20:12 - 00:20:12 (1 sec)

Want to say something?

Robert Lighthizer

00:20:12 - 00:20:22 (10 sec)

I'm here to answer questions, Mr. President, so I'll just -- I'll just keep my mouth shut. But the trade deals are working. China is good. We're on -- we're on track with USMCA. But I'll just answer questions.

Donald Trump

00:20:22 - 00:20:28 (5 sec)

He's very shy. That's good. He just wants to make deals. That's all. And you've done a great job. Thank you very much.

Donald Trump

00:20:28 - 00:20:36 (8 sec)

We will have a news conference at about 5 o'clock, 5:15 maybe. And so we'll see you in a little while. We'll answer questions.

Donald Trump

00:20:36 - 00:21:01 (26 sec)

But this is a great group of leaders, and we've got to make sure that we preserve and even make greater our energy industry. And I want to thank all of the senators and congressmen, the boss here, for being here and for working so hard. They are -- I'll tell you what: They are calling me constantly. They want your industry to be successful and they really -- and they're going to make it that way. We're all going to make it that way.

Donald Trump

00:21:01 - 00:21:10 (8 sec)

So I'll see you at 5 o'clock and -- same place. We look forward to it. Thank you. Thank you very much.

Question

00:21:10 - 00:21:15 (5 sec)

One question about testing. Was anybody in here tested for coronavirus? We got the new guidance?

Donald Trump

00:21:15 - 00:21:19 (4 sec)

Well, would anybody like to be tested? How about you? You want to be tested?

Question

00:21:19 - 00:21:21 (2 sec)

I would love to be tested, actually.

Donald Trump

00:21:21 - 00:21:21 (0 sec)

Question

00:21:21 - 00:21:22 (1 sec)

I think all of us would.

Donald Trump

00:21:22 - 00:21:40 (18 sec)

We might -- we might be able to do that. You know, it's a great question. No, you know what? I like it. Let's test these guys. You know, they gave us millions of jobs. Listen, they gave us millions of jobs. If anybody wants to be tested, we'll test you. I want to test the head of Exxon.

Question

00:21:40 - 00:21:42 (2 sec)

Will this be for every meeting?

Donald Trump

00:21:42 - 00:21:46 (5 sec)

No. Not for every meeting.