Auto-Goal = In the context of sports, particularly soccer (football), an “own goal” (or “auto goal”) occurs when a player unintentionally scores a goal against their team.
President Trump had vowed to lower energy prices. His friends in the oil patch never dreamed he would do so by upending the global economy.
Oil and gas donors spent tens of millions of dollars backing Trump’s second ride to the White House after he promised a new golden age of oil prosperity. They bet he would make fossil fuels a centerpiece of his second term and help them lower production costs, attract investors and build new pipelines and export terminals to tap in to new markets.
nstead, frackers—and everyone else—are caught in a trade war that investors fear will clobber the global economy and sink demand for crude oil. Over two trading sessions, benchmark U.S. oil prices fell almost 14% to $61.99 a barrel, their lowest level since April 2021. That’s a price that shale drillers say would eventually hinder their investment plans.
For some West Texas drillers who experienced the Covid-19 pandemic and other black-swan events that kneecapped the industry, the tariff-induced pain feels like Washington just scored an own-goal.
“It’s a game we’ve played before, but never by our own hand,” said Taylor Sell, the chief executive of Midland-based Element Petroleum.
Can’t think of a more deserving group of American haters for such a thing to happen.
The person who made that auto goal was killed in the match below. On 2 July 1994, Escobar was murdered in the aftermath of the 1994 FIFA World Cup, reportedly in retaliation for having scored an own goal that contributed to Colombia’s elimination from the tournament.