Brendan Gibbons
/
October 9, 2025
The oil and gas industry keeps laying off workers as Trump pushes 'drill, baby, drill!'
The record-high oil and gas production that President Donald Trump inherited when he took office has not translated to more jobs in the industry. Major oil and gas companies, including ExxonMobil, Chevron, Shell, and BP, are all laying off workers amid a decade-long trend of declining industry employment. Industry leaders and analysts attribute the job losses to a combination of persistently low oil and gas prices; higher supply costs, in part due to Trump’s tariffs; and consolidation in the industry, with company mergers leading to eliminating redundant positions.