Trump Caused Oil Prices To Rise, Blamed Biden

[debbiedowner]

Trump touts 'great' Saudi-Russia oil deal to halt price rout, but details unclear

U.S. President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how cuts would work were unclear.

www.reuters.com

Trump’s oil deal: The inside story of how the Saudi-Russia price war ended

For the past month, Saudi Arabia has pumped every possible barrel for sale at rock-bottom prices, punishing Russia for refusing to support deeper OPEC+ output cuts in early March.

fortune.com

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources

By Timothy Gardner, Steve Holland, Dmitry Zhdannikov and Rania El Gamal

www.reuters.com

Trump plays key role in brokering historic oil deal

The world's largest oil producers agreed to a historic production cut of almost 10 million barrels per day.

www.foxbusiness.com

Saudi Arabia and Russia reach deal to end oil price war after pressure from Trump - Washington Examiner

Saudi Arabia and Russia ended their price war and are poised to deliver the oil production cut President Trump has been demanding in order to raise historically low prices that have damaged the U.S. shale industry.Saudi-led OPEC and its allies agreed in principle to a deal during an...

www.washingtonexaminer.com

Now, who are the fucking lemmings? Looks to me it's the magats.

 

[Smokin' OP]

Alaska: Trump opens wilderness up for oil drilling​

BBC
https://www.bbc.com › science-environment-55561536
Jan 6, 2021 — The Trump administration is pushing ahead with the first sale of oil leases in the Arctic National Wildlife Refuge.

Arctic refuge lease sale goes bust, as major oil companies ...​

Alaska Public Media
https://alaskapublic.org › News › Top Stories
Jan 6, 2021 — The lease sale raised a total of $14.4 million in bids, according to the Bureau of Land Management, the federal agency that held the sale.

One of the Trump administration’s biggest energy initiatives suffered a stunning setback Wednesday, as a decades-long push to drill for oil in Alaska’s Arctic National Wildlife Refuge ended with a lease sale that attracted just three bidders — one of which was the state of Alaska itself.

Alaska’s state-owned economic development corporation was the only bidder on nine of the tracts offered for lease in the northernmost swath of the refuge, known as the coastal plain. Two small companies also each picked up a single parcel.

Half of the offered leases drew no bids at all.

Teabaggers always blame the "Gubmint" for what corporations do.

 

[Cellblock2429]

It's fascinating, how badly the Trump cult sore-losers got triggered by reality here.

It's not debatable that Trump deliberately raised oil prices and bragged about it. The Trump cultists think that if they just deny any inconvenient fact loudly and often enough, it will go away.

All of the Trump cultists have retreated into a butthurt alternate reality, and they're not coming back.

/——/ But you already knew what happened next.
Trump duped Saudis into tanking oil prices, analysts say
'Duped,' 'tricked' and 'snookered': Oil analysts say Trump fooled Saudis into tanking crude prices

 

[Smokin' OP]

/——/ But you already knew what happened next.
Trump duped Saudis into tanking oil prices, analysts say
'Duped,' 'tricked' and 'snookered': Oil analysts say Trump fooled Saudis into tanking crude prices

So........Trump also "snookered" the Saudi's begging?

Special Report: Trump told Saudi: Cut oil supply or lose ...​

Reuters
https://www.reuters.com › article › us-global-oil-trum...
Apr 30, 2020 — OPEC, Russia and other allied producers slashed production by 9.7 million barrels per day (bpd), or about 10% of global output. Half that volume ...

 

[TheGreatSatan]

Democrats want high gas prices to punish white people and save the environment.

If a democrat tells you they want lower gas prices, tell that lying pos to kill itself.

 

[DigitalDrifter]

I always get a kick out of Dimocrats trying everything they can to shift the blame.
They seem to ignore their own reality. Everyone knows it's the left and their Dimocrat party that wants to see an end to fossil fuels, and the oil companies know it. You think these companies are going to slash prices knowing they are running out of time? It's basic economics, they are going to maximize their profits instead.

 

[surada]

Well, Biden did say this before he took offiice as part of his campaign, that he will end fossil fuels.

Biden’s Civil War on Energy Is Leaving Endless Collateral Damage in Its Wake

President Joe Biden has declared he will “end fossil fuel.” Presidents have declared war on everything from poverty to drugs, but his declaration is much more sinister. His is really a civil war. The combatants are heavy-handed bureaucrats harassing fellow countrymen who want to do nothing more...

www.heritage.org

And the effects of his war on fossil fuels were apparent including costs rising a great deal.

The domino effect of President Biden’s war on oil and gas

From halting pipeline construction to curtailing America’s domestic energy production on public lands; from begging Saudi Arabia and Venezuela for oil while shoveling billions of taxpayer dollars t…

thehill.com

Biden shutting down the keystone pipeline was a massive mistake that cost a lot of jobs, a lot of fuel and a lot of money to consumers

Why Bidenâs Killing Of Keystone XL Was An Energy Security Blunder

President Joe Biden's White House is begging the Nicolas Maduro regime in Venezuela to ship more oil to the U.S., but that would not be necessary had he not cancelled the Keystone XL pipeline.

www.forbes.com

Or

Brown: President’s war with fossil fuels harms America

President Joe Biden can’t get his story straight regarding America’s energy producers. One day he is begging them to produce more supply; the next he is declaring war on their business practices.…

www.bostonherald.com

And it keeps on going. Biden is ruining American fuel and with it costs skyrocket.

Of course in Biden approved California their costs are so high because gas companies have to pay insane fees and meet ridiculous regulations to sell in California, that cost is passed onto the consumer.

Who's to blame for California's high gas prices?

Gov. Newsom has called for special taxes on oil companies for what he says are price-gouging profits, but he has yet to offer proof.

calmatters.org

I mean when gas prices took a brief dip right before primaries last year Biden took credit for lowering gas prices, which he did at the expense of releasing our emergency reserves. But when prices were high he blamed it on trump and said "the president can't control gas prices" but when they were lower he said he did it which means yes he can control gas prices right?

And using thedailykos as your source for news is laughable at best.

In 2020 over 200 US oil companies declared bankruptcy.

 

[Cellblock2429]

In 2020 over 200 US oil companies declared bankruptcy.

/----/ "In 2020 over 200 US oil companies declared bankruptcy."

Oh please, you don't have to constantly exaggerate to make your points.

Over 100 oil and gas companies went bankrupt in 2020

More than 100 oil and gas companies declared bankruptcy in 2020 after the coronavirus pandemic plunged the energy sector into the worst downturn in a generation.

www.ogv.energy

More than 100 oil and gas companies declared bankruptcy in 2020 after the coronavirus pandemic plunged the energy sector into the worst downturn in a generation.

Forty-six exploration and production companies and 61 oil-field service companies filed for Chapter 11 bankruptcy last year, according to Haynes and Boone, a Dallas law firm tracking bankruptcies. The 107 oil and gas bankruptcies in 2020 were the most since 142 bankruptcies were filed during the last oil bust in 2016.

 

[surada]

But the most bizarre pitch of the evening may have been when he talked about how he got onto a “three-way call” with Vladimir Putin and “the king of Saudi Arabia” (it was actually the bone-saw-wielding usurper Mohammed bin Salman), to talk about oil production. Because Trump outright said that he didn’t do this to get the Russian dictator or the Saudi monarch to raise production and keep prices low. He called on them to cut production and drive up oil prices.

No sooner had Biden taken office than Republicans began to capitalize on the increasing numbers at the pump to insist that Biden was responsible for lower oil production, although this was explicitly the result of Trump’s deal. They put out deliberately misleading charts that moved around the dates of when Trump had taken office and when he had left, to make it seem like high oil prices were a Democratic policy. Trump and others began routinely lying about the price of oilwhen he left office and the price Americans paid at the pump.

But the real cause for the increase was never hidden.

The New York Times reported on the results of Trump’s actions back in April 2020 and how Trump managed to cut global production by 9.7 million barrels a day. As USA Today reported at the time:


While others had tried to lower prices and increase availability, Trump was trying to raise prices for everyone and cut the availability of oil.

News of Trump’s direct intervention in the market—one of those things that conservatives like to rail against when a Democrat is involved—temporarily boosted prices by 24% in one day. But, as CNN Business reported soon after, Trump’s victory lap was premature. Despite getting his buddies to sign on to his idea, oil prices crashed to an 18-year-low within days of the deal being made.

The reason was simple enough: Trump’s mishandling of the COVID-19 pandemic had put the global economy into freefall, cut travel massively, and reduced the level of oil demand to the point where even his famous friendship with the other worst people in the world couldn’t get prices back to where it made Exxon stockholders happy. It was all so bad that Exxon’s profit in 2020 was only $163 billion.

Trump caused oil prices to rise, blamed Biden

In his first big post-federal indictment speech, Donald Trump made some very odd points before a Georgia audience. Speaking in a convention center with barely the capacity of a high school gymnasium, Trump spent much of his time in the way that many...

www.dailykos.com

And now the suckers are sending him bail money.

Nope. In the 1980s Papa Bush begged the Saudis to cut production because US producers were going broke.

Trump lies about his influence and the Saudis.. he's also dumb as hell.

 

[surada]

The Democratic party hack woke up from a bad dream, blames Trump

The 107 oil and gas bankruptcies in 2020 were the most since 142 bankruptcies were filed during the last oil bust in 2016. “Since 2015, more than 500 bankruptcies have been filed in the North American oil and gas industry,” Haynes and Boone said in its latest bankruptcy report published this month.Jan 21, 2021

OGV the leading platform for oil and gas jobs, news and events › news-item
Over 100 oil and gas companies went bankrupt in 2020 - OGV

 

[surada]

Trump touts 'great' Saudi-Russia oil deal to halt price rout, but details unclear

U.S. President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how cuts would work were unclear.

www.reuters.com

Trump’s oil deal: The inside story of how the Saudi-Russia price war ended

For the past month, Saudi Arabia has pumped every possible barrel for sale at rock-bottom prices, punishing Russia for refusing to support deeper OPEC+ output cuts in early March.

fortune.com

Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources

By Timothy Gardner, Steve Holland, Dmitry Zhdannikov and Rania El Gamal

www.reuters.com

Trump plays key role in brokering historic oil deal

The world's largest oil producers agreed to a historic production cut of almost 10 million barrels per day.

www.foxbusiness.com

Saudi Arabia and Russia reach deal to end oil price war after pressure from Trump - Washington Examiner

Saudi Arabia and Russia ended their price war and are poised to deliver the oil production cut President Trump has been demanding in order to raise historically low prices that have damaged the U.S. shale industry.Saudi-led OPEC and its allies agreed in principle to a deal during an...

www.washingtonexaminer.com

Now, who are the fucking lemmings? Looks to me it's the magats.

Saudi Aramco doesn't pump oil .

The 107 oil and gas bankruptcies in 2020 were the most since 142 bankruptcies were filed during the last oil bust in 2016. “Since 2015, more than 500 bankruptcies have been filed in the North American oil and gas industry,” Haynes and Boone said in its latest bankruptcy report published this month.Jan 21, 2021

OGV the leading platform for oil and gas jobs, news and events › news-item
Over 100 oil and gas companies went bankrupt in 2020 - OGV

 

[Cellblock2429]

But the most bizarre pitch of the evening may have been when he talked about how he got onto a “three-way call” with Vladimir Putin and “the king of Saudi Arabia” (it was actually the bone-saw-wielding usurper Mohammed bin Salman), to talk about oil production. Because Trump outright said that he didn’t do this to get the Russian dictator or the Saudi monarch to raise production and keep prices low. He called on them to cut production and drive up oil prices.

No sooner had Biden taken office than Republicans began to capitalize on the increasing numbers at the pump to insist that Biden was responsible for lower oil production, although this was explicitly the result of Trump’s deal. They put out deliberately misleading charts that moved around the dates of when Trump had taken office and when he had left, to make it seem like high oil prices were a Democratic policy. Trump and others began routinely lying about the price of oilwhen he left office and the price Americans paid at the pump.

But the real cause for the increase was never hidden.

The New York Times reported on the results of Trump’s actions back in April 2020 and how Trump managed to cut global production by 9.7 million barrels a day. As USA Today reported at the time:


While others had tried to lower prices and increase availability, Trump was trying to raise prices for everyone and cut the availability of oil.

News of Trump’s direct intervention in the market—one of those things that conservatives like to rail against when a Democrat is involved—temporarily boosted prices by 24% in one day. But, as CNN Business reported soon after, Trump’s victory lap was premature. Despite getting his buddies to sign on to his idea, oil prices crashed to an 18-year-low within days of the deal being made.

The reason was simple enough: Trump’s mishandling of the COVID-19 pandemic had put the global economy into freefall, cut travel massively, and reduced the level of oil demand to the point where even his famous friendship with the other worst people in the world couldn’t get prices back to where it made Exxon stockholders happy. It was all so bad that Exxon’s profit in 2020 was only $163 billion.

Trump caused oil prices to rise, blamed Biden

In his first big post-federal indictment speech, Donald Trump made some very odd points before a Georgia audience. Speaking in a convention center with barely the capacity of a high school gymnasium, Trump spent much of his time in the way that many...

www.dailykos.com

And now the suckers are sending him bail money.

/-----/ "He called on them to cut production and drive up oil prices."
Yes, he did, to save American oil workers' jobs. Oil was trading in negative numbers. and it was killing jobs in US oil production.
Of course, you Climate Change cultists hate oil workers, so you attack with your only retort, Orange Man Bad.

For those interested in what really happened, (skewes 13 excluded, of course), here is a link to Reuters, which no one has ever accused of being sympathetic to Trump or the Right.

U.S. oil futures dropped below $0 last week (April 2020) as sellers paid buyers to avoid taking delivery of oil they had no place to store. Brent futures, the global oil benchmark, fell towards $15 per barrel - a level not seen since the 1999 oil price crash – from as high as $70 at the start of the year.

In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom, four sources familiar with the matter told Reuters.
The week before Trump’s phone call with Crown Prince Mohammed, U.S. Republican Senators Kevin Cramer and Dan Sullivan had introduced legislation to remove all U.S. troops, Patriot missiles and anti-missile defense systems from the kingdom unless Saudi Arabia cut oil output. Support for the measure was gaining momentum amid Congressional anger over the ill-timed Saudi-Russia oil price war. The kingdom had opened up the taps in April, unleashing a flood of crude into the global supply after Russia refused to deepen production cuts in line with an earlier OPEC supply pact.

https://www.reuters.com/article/idUSKBN22C1V3/

 

[jbrownson0831]

But the most bizarre pitch of the evening may have been when he talked about how he got onto a “three-way call” with Vladimir Putin and “the king of Saudi Arabia” (it was actually the bone-saw-wielding usurper Mohammed bin Salman), to talk about oil production. Because Trump outright said that he didn’t do this to get the Russian dictator or the Saudi monarch to raise production and keep prices low. He called on them to cut production and drive up oil prices.

No sooner had Biden taken office than Republicans began to capitalize on the increasing numbers at the pump to insist that Biden was responsible for lower oil production, although this was explicitly the result of Trump’s deal. They put out deliberately misleading charts that moved around the dates of when Trump had taken office and when he had left, to make it seem like high oil prices were a Democratic policy. Trump and others began routinely lying about the price of oilwhen he left office and the price Americans paid at the pump.

But the real cause for the increase was never hidden.

The New York Times reported on the results of Trump’s actions back in April 2020 and how Trump managed to cut global production by 9.7 million barrels a day. As USA Today reported at the time:


While others had tried to lower prices and increase availability, Trump was trying to raise prices for everyone and cut the availability of oil.

News of Trump’s direct intervention in the market—one of those things that conservatives like to rail against when a Democrat is involved—temporarily boosted prices by 24% in one day. But, as CNN Business reported soon after, Trump’s victory lap was premature. Despite getting his buddies to sign on to his idea, oil prices crashed to an 18-year-low within days of the deal being made.

The reason was simple enough: Trump’s mishandling of the COVID-19 pandemic had put the global economy into freefall, cut travel massively, and reduced the level of oil demand to the point where even his famous friendship with the other worst people in the world couldn’t get prices back to where it made Exxon stockholders happy. It was all so bad that Exxon’s profit in 2020 was only $163 billion.

Trump caused oil prices to rise, blamed Biden

In his first big post-federal indictment speech, Donald Trump made some very odd points before a Georgia audience. Speaking in a convention center with barely the capacity of a high school gymnasium, Trump spent much of his time in the way that many...

www.dailykos.com

And now the suckers are sending him bail money.

Poor skrewey, such a sheeple.
Poopeypants shut down our production, then paid Putin billions for oil. And what did Putin use those billions for shortly thereafter?
Poor looneytunes skrewey.

 

[Cellblock2429]

Nope. In the 1980s Papa Bush begged the Saudis to cut production because US producers were going broke.

Trump lies about his influence and the Saudis.. he's also dumb as hell.

Don't you ever get tired of being wrong?

https://www.reuters.com/article/idUSKBN22C1V3/

 

[justoffal]

But the most bizarre pitch of the evening may have been when he talked about how he got onto a “three-way call” with Vladimir Putin and “the king of Saudi Arabia” (it was actually the bone-saw-wielding usurper Mohammed bin Salman), to talk about oil production. Because Trump outright said that he didn’t do this to get the Russian dictator or the Saudi monarch to raise production and keep prices low. He called on them to cut production and drive up oil prices.

No sooner had Biden taken office than Republicans began to capitalize on the increasing numbers at the pump to insist that Biden was responsible for lower oil production, although this was explicitly the result of Trump’s deal. They put out deliberately misleading charts that moved around the dates of when Trump had taken office and when he had left, to make it seem like high oil prices were a Democratic policy. Trump and others began routinely lying about the price of oilwhen he left office and the price Americans paid at the pump.

But the real cause for the increase was never hidden.

The New York Times reported on the results of Trump’s actions back in April 2020 and how Trump managed to cut global production by 9.7 million barrels a day. As USA Today reported at the time:


While others had tried to lower prices and increase availability, Trump was trying to raise prices for everyone and cut the availability of oil.

News of Trump’s direct intervention in the market—one of those things that conservatives like to rail against when a Democrat is involved—temporarily boosted prices by 24% in one day. But, as CNN Business reported soon after, Trump’s victory lap was premature. Despite getting his buddies to sign on to his idea, oil prices crashed to an 18-year-low within days of the deal being made.

The reason was simple enough: Trump’s mishandling of the COVID-19 pandemic had put the global economy into freefall, cut travel massively, and reduced the level of oil demand to the point where even his famous friendship with the other worst people in the world couldn’t get prices back to where it made Exxon stockholders happy. It was all so bad that Exxon’s profit in 2020 was only $163 billion.

Trump caused oil prices to rise, blamed Biden

In his first big post-federal indictment speech, Donald Trump made some very odd points before a Georgia audience. Speaking in a convention center with barely the capacity of a high school gymnasium, Trump spent much of his time in the way that many...

www.dailykos.com

And now the suckers are sending him bail money.

Awwww.....geez it sucks being at the top....oh well tough shit.

 

[Rambunctious]

Nope. In the 1980s Papa Bush begged the Saudis to cut production because US producers were going broke.

Trump lies about his influence and the Saudis.. he's also dumb as hell.

A good leader looks out for American companies and puts a stop to the undercutting other nations do....

 

[Smokin' OP]

A good leader looks out for American companies and puts a stop to the undercutting other nations do....

YES, a good leader does.

The U.S. Commerce Department last month banned American companies from selling to the firm for seven years as punishment for ZTE breaking a 2017 agreement after it was caught illegally shipping U.S. goods to Iran and North Korea, an investigation dating to the Obama administration.


Donald J. Trump

@realDonaldTrump

President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast. Too many jobs in China lost. Commerce Department has been instructed to get it done!


11:01 AM · May 13, 2018

Too many jobs in China lost?

Is China Straight-Up Bribing Donald Trump?​

Vanity Fair
https://www.vanityfair.com › News › zte
May 15, 2018 — The president suddenly softens on a Chinese business after Beijing bankrolls a Trump Organization project.

 

[Mac-7]

YES, a good leader does.

The U.S. Commerce Department last month banned American companies from selling to the firm for seven years as punishment for ZTE breaking a 2017 agreement after it was caught illegally shipping U.S. goods to Iran and North Korea, an investigation dating to the Obama administration.
Donald J. Trump
@realDonaldTrump

President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast. Too many jobs in China lost. Commerce Department has been instructed to get it done!


11:01 AM · May 13, 2018

Too many jobs in China lost?

Is China Straight-Up Bribing Donald Trump?​

View attachment 910635
Vanity Fair
https://www.vanityfair.com › News › zte
May 15, 2018 — The president suddenly softens on a Chinese business after Beijing bankrolls a Trump Organization project.

From the Vanity Fair article:

Of course, we can’t entirely be sure that the financial injection was the reason for Trump’s sudden soft spot for Chinese jobs. Other theories for the change of heart include the fact that the president knows he needs China’s help during next month’s North Korea summit; that the economic nationalists in the White House are losing ground to the free-traders like Larry Kudlow; and that Trump sees helping ZTE as a way to get a trade deal with China. (According to the Washington Post the Chinese government gaveand the U.S. a list of economic and trade demands and bullet point 5 was “announce adjustment to the [ZTE] export ban.”)

I agree that letting ZTE off the hook is a mistake

But I DO NOT agree with the rabid trump haters that he is a traitor who is for sale to the chinese

 

[Smokin' OP]

From the Vanity Fair article:

Of course, we can’t entirely be sure that the financial injection was the reason for Trump’s sudden soft spot for Chinese jobs. Other theories for the change of heart include the fact that the president knows he needs China’s help during next month’s North Korea summit; that the economic nationalists in the White House are losing ground to the free-traders like Larry Kudlow; and that Trump sees helping ZTE as a way to get a trade deal with China. (According to the Washington Post the Chinese government gaveand the U.S. a list of economic and trade demands and bullet point 5 was “announce adjustment to the [ZTE] export ban.”)

I agree that letting ZTE off the hook is a mistake

But I DO NOT agree with the rabid trump haters that he is a traitor who is for sale to the chinese

Trump is a traitor for many other reasons than just that.

Trump Disclosed Trademarks in China and Russia After ...​

Business Insider
http


Donald Trump's financial disclosures neglected to include hundreds of trademarks he owns — including over 100 in China and six in Russia — until after he left the office of the presidency.

 

[Mac-7]

Trump is a traitor for many other reasons than just that.

Trump Disclosed Trademarks in China and Russia After ...​

View attachment 910636
Business Insider
http
Donald Trump's financial disclosures neglected to include hundreds of trademarks he owns — including over 100 in China and six in Russia — until after he left the office of the presidency.

Nothing I say is going to bring you down out of that tree

What you are telling us is that trump cant be president because he’s an international businessman

Instead you seem to want washington swamp rats with little or no business to make all the decisions