Trump bullied Saudis to cut production and raise oil prices, then republicans refused to act
Last edited Wed Sep 20, 2023, 09:17 AM - Edit history (4)
...Trump is now just outright lying about oil prices, claiming Pres. Biden's responsible for high gas prices today.
We shouldn't just recoil from the increase in the price of oil, or, as some in the media have, just bandy the price around like Democrats should be fearful of outside forces influencing the price of oil as Saudis have done for decades and decades.
We should be shouting from the rooftops about what Trump and congressional republicans have done to keep oil prices high.
When Trump was president, using his republican Congress as his enforcer, he DEMANDED Saudis CUT their oil production, or lose U.S. military support, all to keep oil prices HIGH to benefit U.S. oil interests.
Reuters, Apr. 2020:
In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom, four sources familiar with the matter told Reuters.
The effort illustrated Trump’s strong desire to protect the U.S. oil industry from a historic price meltdown as governments shut down economies worldwide to fight the virus. It also reflected a telling reversal of Trump’s longstanding criticism of the oil cartel, which he has blasted for raising energy costs for Americans with supply cuts that usually lead to higher gasoline prices. Now, Trump was asking OPEC to slash output.
A senior U.S. official told Reuters that the administration notified Saudi leaders that, without production cuts, “there would be no way to stop the U.S. Congress from imposing restrictions that could lead to a withdrawal of U.S. forces.”
Asked what he told the Crown Prince Mohammed, Trump said: “They were having a hard time making a deal. And I met telephonically with him, and we were able to reach a deal” for production cuts, Trump said.
“I thought he and President Putin, Vladimir Putin, were very reasonable,” Trump said.
https://www.reuters.com/article/us-global-oil-trump-saudi-specialreport-idUSKBN22C1V4
More importantly, the entire republican party has voted to keep gas prices high. When Democrats voted to end gas gouging, every single republican in Congress voted NO.
The bill backed by House Democrats would have given President Biden authority to declare an energy emergency that would make it unlawful to increase gasoline and home energy fuel prices in an “excessive” or exploitative manner. The bill directed the Federal Trade Commission to punish companies that engage in price gouging.
Also, republicans' claim that Pres. Biden overseen a decline in oil production in the US is provably false: US oil production is set to reach an all-time high of 12.8 million barrels a day this year and 13.1 million in 2024, higher than under Trump or any prior president.
Moreover, the IEA forecast is for oil prices to IMPROVE next year:
U.S. oil production is forecast to average an all-time high of 12.8 million barrels a day this year and keep growing to 13.1 million in 2024, the federal Energy Information Administration said in its latest forecast. That’s up from the most recent trough of 5 million barrels a day in 2008, and probably enough to help the U.S. to keep its title as the No. 1 global crude oil producer.
Global forces, meanwhile, could cause pump prices to ease next year, with the Paris-based International Energy Agency forecasting that oil supply next year will outstrip demand.
.
= new reply since forum marked as read
...the killer hook is Trump's obligation to the Saudis.
...second response, trying, I guess, to make the argument that republican bs is politically involiable.
