Eager to stay in Mr. Trump’s good graces, oil executives refrain from publicly criticizing the president. But privately, ‘Everybody’s afraid.’

The angry mutterings at the Permian Basin Petroleum Association’s “Spring Swing” golf tournament this week weren’t all about missed putts or lost balls. The Texas oilmen on the fairways had a more serious concern: The president they helped elect was tanking oil prices.

Oil executives express concerns over the Trump administration's energy policies, citing uncertainty and increased costs due to tariffs, despite public praise for the administration's pro-fossil fuel stance.