American oil tycoon and Opec accused to conspire to inflat oil prices

Well ofcourse oil was freaking zero dollars per barrell. If you haven't looked around the entire ENERGY of the world relies on oil. If American oil companies fail, the world immediately shuts down and we have a global depression within days. Now thank God it was Trump and he got it up around $20/barrel by talking the saudi's to cutting production, for a reference under Biden today it's roughly $74/barrell. If the Saudi's would have said f'u like they did when Biden begged them, American oil either dies and millions of jobs with it or America is about to pay for the biggest bail out of all time. How much different would 2020 looked? We got lucky and Thank goodness Trump wasn't some dumb dumb partisan liberal that has zero business sense.

 

And again — the point you blew by — there was no plan moving forward once demand increased.

You can continue to show your intellect by hurling insults though.

 

So socialize our oil? I’m down

 

But how? Govt confiscate from drillers on our soil and give to Americans for free? I’m not sure you even know what you’re suggesting…

 

So, your belief is; After the oil market crashed, if it wasn’t for Trump, the Saudis/OPEC would have never cut their production.

You should win this year’s most gullible award.

 

wow, talk about greed

 

yep, we can thank Trump for higher prices when demand increased and the supply was not there after Covid

Trump should of just let Americans have cheap gas until Covid was over

 

Well that's rediculous, why even post something so, oh wait, Mello guy!

That explains it

 

I'm responding to UNDERHANDED manipulation of pricing. You know, like the threads topic suggest..

Come on MG, catch up Bro..

 

Trump and he got it up around $20/barrel by talking the saudi's to cutting production
This makes no sense !!!!!

Cutting production, in no possible way lowers prices.

 

It's a flawed analysis because it defies reality and common sense.

 

My money is on simple political nonsense, which has superseded reality and common sense these days.

 

Hell, remember this one.

Politics
Jared Kushner defends his equity firm getting $2 billion from Saudis after he left White House
New York — Jared Kushner, Donald Trump's former White House adviser and his son-in-law, defended on Tuesday his business dealings after leaving government with the Saudi crown prince who was implicated in the 2018 killing of Washington Post columnist Jamal Khashoggi.

 

Hell, remember this!

New York — Jared Kushner, Donald Trump's former White House adviser and his son-in-law, defended on Tuesday his business dealings after leaving government with the Saudi crown prince who was implicated in the 2018 killing of Washington Post columnist Jamal Khashoggi.

 

No belief, Trump negotiated with Saudi, I don't know what they would have or wouldn't have done but agree they eventually would've lowered production. Factual History is history. So Cubed trashes trump for negotiating with the Saudis to lower production, then you come along and act like Trump didn't accomplish anything, the Saudis were going to cut production anyway? Thank you effectively just made your fellow lefty look disingenuous and I agree, which was my point of the thread.

 

In an April 2nd, 2020 phone call; Trump told Saudi Crown Prince Mohammed Bin Salman that unless OPEC started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the Kingdom.

Thus, prior to Trump’s phone call, several members of Congress were already threatening the Saudis to cut production, or else.

Hence don’t make it look like it was an all Trump effort/deal making.

 

Boy your side just can't make up your mind, one lefty says it was Trump's fault, you say trump didn't do anything, record from a lefty rag back then worried it wouldn't work. This is literally TDS in front of our eyes.
https://www.politico.com/news/2020/...and-saudi-arabia-to-cut-oil-production-161368

 

I represent the independent side…..

Trump’s fault? NO, and if we were to blame a person or a party, then Russia’s refusal to cut production, and Saudis increasing world supply made matter worse/led to a crash.

Also, prior to Trump doing something, Congress was pressuring/threatening Saudi Arabia.

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


“The week before Trump’s phone call to 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.”

———-

We now have the full story, your half, and my half.

 

MAGA’s belief; Biden’s “Day One” Executive Orders increased the price of crude/price at the pumps.

Huuuuuuummm, not according to this thread;

1. OPEC/Non-OPEC agreed to cut production by 10 million barrels per day.

Details of cuts;

- 10 million bpd from May to June 2020
- Down to 8 million bpd from July to December 2020
- Down to 6 million bpd from January to April 2022

https://www.opec.org/opec_web/en/press_room/5882.htm


AND WHEN DEMAND PICKED UP……


2. Trump’s mega donors who have slow walked production.

The Mega-Donor Who Colluded With OPEC

https://prospect.org/power/2024-05-07-mega-donor-scott-sheffield-opec-exxonmobil/

————

 

Just WOW……

Presidents have the authority to negotiate with other national states, individual companies do not.

Trump negotiated with the Saudis….yeah, oil was $20 a barrel, and demand would put it at $10 per barrel. Claiming Trump was some great genius in what he did with “oil prices” is beyond disingenuous because your leaving out the 800lb gorilla in the discussion that was the pandemic. I don’t really blame Trump, or credit him with that.

You also leave out that Trump was allowing one of our largest refineries to be sold to the Saudis, thus relegating our US GAS output to be heavily influenced by foreign nation states(roughly 1/3 of our refining capcaity) . Now to be clear, Trump didnt sell it, but he did nothing to stop it either.

Biden has it put back to where it is supposed to be, but because the Saudis now control 1/3 of our refining capabilities, they have a much larger impact on gas prices.

 

it would not shock me if Trump had his finger in the higher prices consumers are paying, even now....

 

Authoritarian regimes like wannabe autocrats.

 

April 02. 2020 Trump tweeted that he expected a deal soon between Saudis and Russians to sharply reduce their exports. That sent Brent crude prices surging as much as 45 percent, though the rally soon weakened. U.S. prices were trading up more than 25 percent near $25 a barrel by mid-afternoon.

Really?

WTI Price

March 30th, 2020……$14.10
April 01, 2020………..$20.51
April 02, 2020………..$25.18
April 06, 2020………..$26.21
April 13, 2020………..$22.26
April 20, 2020………..MINUS $36.98…..18 days after Trump’s phone call/tweet
April 27, 2020………..$12.17
May 04, 2020………..$24.02

https://www.eia.gov/dnav/pet/hist/rwtcD.htm

BRENT Price

March 30th, 2020…….$19.19
April 01, 2020…………$14.97
April 02, 2020…………$24.24
April 03, 2020…………$24.33
April 27, 2020…………$15.17…..25 days after Trump’s phone call/tweet

https://www.eia.gov/dnav/pet/hist/rbrteD.htm

Yep, let’s glorify POTUS for a one afternoon rally, and for partisan reasons.

 

Trump didnt "expect that", we closed down the country in march. Of course prices fell because we shut down the country. Trump doesnt get credit for that pricing, the market set it based on supply and demand

 

Oil futures plunged the WTI to a negative price, and 18 days after Trump phone call/tweet.

Cause; Near overflowing storage/oversupply due to a historic low demand for crude, and petroleum products.