You have to look at the root of inflation. I'll tell you exactly when the very first kernel of inflation was set. And that was in April of 2020,” Cuban said. “The gas prices were $1.87. The oil companies went to Donald Trump and said, ‘We are getting crushed with gas prices at $1.87. Please go to Saudi Arabia and your friend MBS [Prime Minister of Saudi Arabia Mohammed bin Salman Al Saud], please go to Russia and your friend Vladimir Putin and ask them to reduce production.’”
“So he had a choice to make: Does he help his oil company cronies or does he help keep gas prices low?” Cuban continued. “You already know what he did. He went to support his oil company cronies, went to MBS and Putin and said, please reduce production.
That was the day inflation started. And you can track—minute by minute, hour by hour, month by month, year by year, quarter by quarter,” Cuban explained, saying that the gas prices and inflation rates only began going down when that deal ended in 2022.
Billionaire Mark Cuban appeared on NewsNation's preelection town hall Wednesday to argue that electing Democratic presidential nominee Kamala Harris would be better for the economy than another term ...
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