Whalen: Tillerson Interesting Choice for Sec. of State

The transcript discusses the potential impact of Rex Tillerson's appointment on oil majors, highlighting Exxon Mobil's significant role. It examines the credit cycle and private equity's influence in the US oil sector, noting the resilience of shale oil producers. The discussion extends to Trump's cabinet choices, suggesting minimal impact on oil production dynamics. The conversation concludes with an analysis of Trump's cabinet composition, comparing it to historical precedents and emphasizing the presence of technocratic bankers.

What role did private equity play in the U.S. oil market according to the discussion?

• They reduced oil production.

• They provided financial support to smaller producers.

• They increased oil prices.

• They collaborated with OPEC.

How is Exxon Mobil described in terms of its organizational structure?

• Focused solely on renewable energy

• Bureaucratic and large

• A small, agile company

• Highly flexible and adaptive

What was OPEC's strategy that backfired according to the discussion?

• Forcing other countries to increase production

• Cutting their own production

• Increasing oil prices

• Collaborating with U.S. frackers

How is Trump's cabinet described in comparison to historical cabinets?

• As a New Deal cabinet

• As a Gilded Age cabinet

• As a conventional Republican cabinet

• As a cabinet of robber barons

What is notable about the Goldman contingent in Trump's cabinet?

• Their focus on renewable energy

• Their willingness to be involved

• Their lack of experience

• Their opposition to technocratic policies