Ted Cruz: The Objective of the Saudis and Russians Was to Bankrupt Our Energy Companies and Put Them out of Business

‘That would be really bad for the national security and economic security of our country’

EXCERPT:

CRUZ: “Last Friday I flew to D.C. to meet with the president to meet with CEOs of major energy companies. We spent two hours talking about how we can combat that to prevent the Saudis and Russians from bankrupting all the Texas producers, all of the U.S. energy producers. I think the keys to that are going to be number one, putting real pressure on the Saudis. I’ve talked with the Saudis multiple times, the president has talked to them stop waging economic warfare on the United States. I’m hopeful based on their commitments they’re going to pull back and end that effort. But secondly -- this is what we spent a lot of time Friday talking about -- we need to make sure that the energy companies that are facing this massive attack, particularly small independent energy companies have access to capital. That they’re not frozen out of being able to get a line of credit to stay alive because the objective of the Saudis and Russians was to bankrupt them all and put them out of business. That would be really bad for the national security and economic security of our country.”

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