It talks about Tesla, but I'm not really sure how much oil prices can really decline. I would be more worried about SolarCity and solar in general. Trump says he wants to expand coal, nat gas, etc.. and cheaper prices for those (and perhaps discontinuation of credits for renewable energy) would discourage new solar installations. What would be really sad is if this policy change causes bankruptcies in renewable energ…
Fracking is an expensive way to get oil (compared to drilling), and we're near the break even price. The Saudis, who have been manipulating our politics for years by threatening to cut production to raise prices, have now started flooding the market with cheap oil in an effort to starve out both our fracking and our emerging electric car market.
Our response has been to pass a law making foreign nations liable for damages caused by their involvement in terrorism committed on US soil, and declassifying the 9-11 report, which shows enough Saudi involvement to open the door for a lawsuit. Considering how much they have in US assets, this could potentially be collected on. It's a threat. We're trying to pressure them into ending their flood of the market so prices will rise. The Saudis know it and have threatened to drop a trillion in US debt and holdings.
Say what you want about Trump's social issues, but he understands this kind of game. He's not going to expand a US product that is struggling to break even with intent to lower the sale price. He'll continue pressuring the Saudis to drop their production, oil prices will rise, and it will benefit both the US oil industry, and Elon Musk.