General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump made dirty deals to drive down oil prices for the election.
Did you notice gas prices dropped before the election? Trump convinced (somehow) Saudi Arabia to increase production. At the same time he gave Iran a waiver on oil sanctions which of course pissed off Saudi Arabia. Saudi Arabia may now cut production which will cause gas prices to go up.
Everything Trump touches is corrupted. We have to get rid of this fucking asshole as soon as possible, before he hurts all of us.
bullwinkle428
(20,629 posts)not coincidental. I would have bet my entire 401k that there was some kind of market manipulation.
dkhbrit
(110 posts)If the Saudi's cut production before the election it would have raised prices. You have your assumptions all wrong.
rateyes
(17,438 posts)before the election, and is now talking about cutting production. Waivers were granted on Iran that took teeth out of sanctions.
sagesnow
(2,824 posts)wouldn't it have caused oil prices to increase? In other words, wouldn't decreased supply of oil cause a price increase in oil and gas?
A HERETIC I AM
(24,365 posts)No, that's not how it works. Crude Oil is a fungible commodity and its worldwide price is directly tied to supply and demand. Demand is low and trending lower and supply is high. The price falls, plain and simple.
If ANY producer seriously ramps up production, it will most certainly NOT cause prices to rise. Basic market economics.
onenote
(42,694 posts)and prices are still higher than they were a year ago.
And how does Saudi cutting production lower gas prices? And how does increasing production raise them?
Johnny2X2X
(19,038 posts)Trump doesn't yet realize how delicate economies are, this will have consequences and will hurt the economy.
shockey80
(4,379 posts)A HERETIC I AM
(24,365 posts)The Bush family? Yeah, probably. They are old Texas oil money. Trump? Not so much.
shockey80
(4,379 posts)I believe that was his first overseas visit.