President Trump got elected in no small part because he correctly called out how often America gets taken advantage of by our “partners.”
China, Europe to a degree and certainly Saudi Arabia like to have their cake and eat it too when it comes to their policy towards America.
For too long we have let them when it would be so easy to put them on notice and stop the gouging.
But it would take courage and a spine the likes Of Obama lacked. Not Trump.
Saudi Arabia stopped supporting higher oil prices after Donald Trump said higher prices “will not be accepted.”
The world’s largest oil exporter was said to have planned to move oil prices up to $100 a barrel but now appears to have decided that prices should not move higher than $80 a barrel.
Oil prices fell Friday, sending shares of oil producers and refiners lower and airline shares higher after Saudi Oil Minister Khalid al-Falih said his country shared the “anxiety” of his customers over the rising price of oil. He went on to announce that the Organization of Petroleum Exporting Countries would likely boost its output in the second half of the year.
All this follows a April 20th tweet from President Trump decrying the “artificially Very High” price of oil.
“The tweet moved the Saudis,” Bob McNally, founder of consultant Rapidan Energy Group LLC in Washington and a former White House oil official said. “The message was delivered loud and clear to Saudi Arabia.”
Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!
— Donald J. Trump (@realDonaldTrump) April 20, 2018
Trump knows what most other politicians either are too dumb to figure out or are too cowardly to act on – that Saudi Arabia still sets the price for oil.
That is changing with the shale boom.
But as the summer driving season kicks into high gear and Pelosi trying to say rising gas prices hit the US consumer as a hidden tax, it seems Trump was a few steps ahead of her.
Again. Crude fell from $70 to $67 a barrel yesterday.