US President Donald Trump gestures after arriving on Capitol Hill as US Senate Majority chief Mitch McConnell (R-KY) and Senator Roy Blunt (R-MO) look on in Washington, DC on March 10, 2020.
Nicholas Kamm | AFP | Getty Photos
As oil costs decline and stress power firms, President Donald Trump will reportedly doubtless search a federal help package deal for struggling U.S. producers, The Washington Put up reported Tuesday, citing 4 folks conversant in the matter.
The help would doubtless be within the type of low-interest authorities loans, The Washington Put up mentioned.
Monday was the power sector's worst day on file, as oil costs slid 24% to greater than four-year lows. Latest losses are accelerating declines within the oil patch, which has been struggling for years.
Each part within the sector is at present buying and selling in a bear market, or greater than 20% under latest highs.
On Tuesday, Occidental Petroleum slashed its quarterly dividend by 86%, whereas additionally reducing its capital spending program, and...
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