OREANDA-NEWS. Tesla CEO Ilon Musk criticized US Presidential Administration Donald Trump’s plans to help oil companies hit by falling global prices as a result of the coronavirus pandemic.

Musk expressed his position on Twitter, answering a question from one of the subscribers. The latter doubted the need to allocate budget funds to support the oil industry. “Yes, not the best way to spend money”, Musk replied. The businessman also noted that “most of the points for which money is allocated raise questions, but the oil and gas industry is a separate issue”.

It's indicated that Musk will be included in the list of people who will advise Trump on ways to restore the US economy after the pandemic. In addition to him, the White House will be advised by Apple CEO Tim Cook, JP Morgan Chase CEO Jamie Dimon, and billionaire Mark Cuban.

At the beginning of this week, the price of Texas-based WTI crude oil for the first time in history reached negative values: at the close of trading, the price of a barrel for delivery in May reached minus $ 37.63 per barrel. At the opening, a barrel of WTI was trading for $ 17.73, but within a few hours the price fell by almost $ 56.