Publications: Notes at the Margin

Golf and the Price of Oil (August 18, 2025)

 

Many energy industry executives are avid golfers. As one corporate coach observed,

 

Golf has long been linked to corporate culture, leadership, and business. Its ability to blend strategy with leisure makes it the perfect sport for networking, team development, and business dealings.[i]

 

Recently, a game of golf may have changed the direction of global oil markets. Shortly after playing a round with Finland’s president, Alexander Stubb, President Trump reversed course on his view of Russia in Ukraine, as The Wall Street Journal noted:

 

Hours after their victory [in a member-guest golf tournament at one of Trump’s clubs], Trump for the first time harshly criticized Putin for prolonging the Ukraine war, saying in a TV interview that he was “pissed off” and “very angry” at the Russian leader’s rejection of a cease-fire.[ii]

 

That victory may have shifted the direction of history and oil prices.

 

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