Lets take all the exact same circumstances, but make Trump the President.
Now who would be repsonsible for gas prices and why?
Trump would and here's why.
If you want to read the text of the complete Sherman Anti Trust act lawsuit it is here, otherwise just read what I copied.
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.courthousenews.com/wp-content/uploads/2022/03/daugusta-etal-american-petroleum-complaint.pdf
23. On either the afternoon of Wednesday, April 1, 2020, or on Thursday, April 2, 2020, former President Trump, at the request of the Defendants, spoke with Vladimir Putin and with the Crown Prince of Saudi Arabia in an effort to stop the price war. 24. On the next day, Thursday April 2, 2020, after his conversations with Saudi Arabia and Russia, the former President tweeted: “Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry! ...Could be as high as 15 Million Barrels. Good (GREAT) news for everyone!” 25. On the next day, Friday, April 3, 2020, the former President met with the CEOs of the Defendants and others in the Cabinet Conference Room in the White House. The people who were present were as follows: a) The former President of the United States, Donald J. Trump; b) The American Petroleum Institute (API), by its Chief Executive Officer, Mike Sommers; c) Exxon Mobil Corporation, by its Chairman and Chief Executive Officer, Darren Woods; d) Chevron Corporation, by its Chairman and Chief Executive Officer, Michael Wirth; e) Phillips 66 Company, by its Chairman and Chief Executive Officer, Greg Garland, who was to later serve as the CEO of API; f) Occidental Petroleum, by its President and Chief Executive Officer, Vicki Hollub; g) Devon Energy Corporation, by its President and Chief Executive Officer, David Hager; h) Continental Resources, Inc., by its Chairman of the Board of Directors, Harold Hamm; i) Hilcorp Energy Founder and Chairman, Jeff Hildenbrand; j) Energy Transfer Partners, by its Executive Chairman, Kelcy Warren; k) The United States Secretary Department of Interior, by David Bernhardt; Case 3:22-cv-01979 Document 1 Filed 03/28/22 Page 6 of 25 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Complaint for Violation of the Sherman Act 7 l) The United States Secretary Department of Energy, by Dan Brouillette; and m) The Office of the U.S. Trade Representative, by Trade Representative, Robert Lighthizer. Others who were present at the introductory part of the meeting before the secret meeting were: n) Kevin McCarthy, United States Representative [R] California; o) John Cornyn, United States Senator [R] Texas; p) Ted Cruz, United States Senator [R] Texas; and q) Dan Sullivan, United States Senator [R] Alaska. 26. Before the secret part of the former President’s meeting with the CEOs of the Defendants, and API, the President advised the CEOs that he would tell them about the specifics of his conversations with the Crown Prince of Saudi Arabia and President Vladimir Putin of Russia, in his effort to act as the facilitator to stop the price war so that the US producers could raise the price of oil and gasoline. 27. After the secret meeting with the Defendant oil companies, the CEO of API, Mr. Sommers, stated that the price war between Russia and Saudi Arabia, and the consequent excess supply of oil, were the principal subjects of the meeting. 28. As a result of the meeting, it was understood that if the price war were stopped, the Defendants would increase their prices for oil and gasoline. 29. On the following Monday and Tuesday, April 6 and 7, 2020, news articles appeared in the Wall Street Journal and the New York Times, stating that Saudi Arabia and Russia, as a condition of calling off the price war, required that the countries of North Case 3:22-cv-01979 Document 1 Filed 03/28/22 Page 7 of 25 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Complaint for Violation of the Sherman Act 8 America (the United States, Canada and Mexico), must also agree to cut production. 30. On Thursday, April 9, 2020, former President Trump signaled that there would be a reduction in domestic production when he tweeted: “[T]here is so much production, noone knows what to do with it.” 31. As a “signal” to Saudi Arabia and Russia, that the United States itself would cooperate in reducing the available oil supply on the market, Secretary of Energy, Mr. Brouillette, “opened the Strategic Petroleum Reserve (SPR) to store excess oil from the U.S. producers. And I am pleased to report that crude oil deliveries of 21.3 million barrels to the SPR have been completed, a positive signal for the crude oil markets.” 32. Consequently, instead of filling the SPR with oil at very low prices for the benefit of the United States, the Department of Energy, in furtherance of the combination and conspiracy to withdraw oil supply from the market, simply stored over 20 million barrels of the excess oil from the U.S. producers and took it off the market. 33. On the same day, Thursday, April 9, 2020, OPEC held an emergency meeting to determine whether the price war would be called off. As a result of that emergency meeting, OPEC+ (Saudi Arabia and Russia) agreed to call off the price war and further agreed to cut the production of oil by 10 million barrels per day for at least a two-month period. 34. API’s Sommers lauded the agreement as the result of “strong U.S. diplomacy and reduced domestic production.” Mr. Sommers specifically stated that “this move will help stabilize world oil markets.” The American oil companies had agreed to the demands of Saudi Arabia and Russia. The cartel now included the Americans. It was, in effect and fact, OPEC++ (OPEC plus Russia plus America). 35. On Friday, April 10, 2020, at the G-20 meeting, it was made clear by Russian Case 3:22-cv-01979 Document 1 Filed 03/28/22 Page 8 of 25
30. On Thursday, April 9, 2020, former President Trump signaled that there would be a reduction in domestic production when he tweeted: “[T]here is so much production, noone knows what to do with it.” 31. As a “signal” to Saudi Arabia and Russia, that the United States itself would cooperate in reducing the available oil supply on the market, Secretary of Energy, Mr. Brouillette, “opened the Strategic Petroleum Reserve (SPR) to store excess oil from the U.S. producers. And I am pleased to report that crude oil deliveries of 21.3 million barrels to the SPR have been completed, a positive signal for the crude oil markets.” 32. Consequently, instead of filling the SPR with oil at very low prices for the benefit of the United States, the Department of Energy, in furtherance of the combination and conspiracy to withdraw oil supply from the market, simply stored over 20 million barrels of the excess oil from the U.S. producers and took it off the market.
oilprice.com
www.wsj.com
