Negative Oil Prices Are ‘Short-Term Disruption,’ Trump Adviser Says

Pump jacks on the Bakken Shale Formation, near Williston, N.D., on Sept. 6, 2016. Robyn Beck/AFP via Getty Images

A senior economic adviser to President Donald Trump said the drastic drop in the price of crude oil was expected to happen.

“We stopped in order to control the virus, and we’ve never really stopped the economy before,” Kevin Hassett, a former chairman of the White House Council of Economic Advisers, said on Fox News’ “America’s Newsroom“ on April 21, describing it as a ”very, very short-term disruption.”