- Dec 29, 2008
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How about instead of doing "green" things that wreck oil prices, just have responsible policies that DONT do that? You wouldnt have to make absurd threads like this if you guys just made a rational decision from time to time.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.
