Trump’s recent cabinet picks are all about oil

Word broke late Monday night that President-elect Donald Trump had indeed chosen oil magnate Rex Tillerson as secretary of state. Trump, in his preferred method of communication, confirmed the news Tuesday morning on Twitter:

The official statement from the Trump transition team speaks to Tillerson’s ability to manage a huge multinational company and his understanding of geopolitics, not to mention his broad business ties to foreign governments and businesses. Tillerson is the CEO of Exxon Mobil, the world’s eighth largest company by revenue, and the second-most profitable company in 2014.

Those ties have some on Capitol Hill squirming, notably Sens. John McCain (Ariz.) and Marco Rubio (Fla.). However, in light of some remarkable deal making in the energy industry lately, those ties may be exactly why Trump chose Tillerson.

The Wall Street Journal reported late last week that a historic deal has been made among oil-producing countries, members of Organization of the Petroleum Exporting Countries and non oil-producing nations “designed to reduce a global oversupply of crude, lift prices and lend support to economies hurt by a two-year market slump.”